Ethanol Blog

Argo, NYH Cash Ethanol Prices Pressured by Corn Futures Retreat

The cash ethanol market was mixed Wednesday afternoon, with California spot prices rising by as much as 3.0 cents while in Chicago and New York Harbor they eased, as a retreat by Chicago Board of Trade corn futures and New York Mercantile Exchange RBOB futures negated bullish ethanol data by Energy Information Administration. EIA said ethanol stocks fell 1.6% to a six-month low of 19.5 million barrels last week and production eased 2.6% to a six-week low of 968,000 barrels per day (bpd) from a record high, while blender inputs, a measure for demand, rose 0.7% to 908,000 bpd. Prompt ethanol at Argo traded at $1.58 and $1.59 gallon, down 1.5 cents, while a New York Harbor July ethanol barge was talked at a $1.68 to $1.70 gallon bid/ask, down 2.0 cents. Ethanol delivered this week to northern California was talked at a $1.76 to $1.78 gallon bid/ask for a gain of 3.0 cents.

George Orwel can be reached at george.orwel@telventdtn.com

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