Ethanol Blog
Spot Ethanol Up as Supply Remains Tight Despite EIA Data
Spot ethanol prices rallied Wednesday on talk physical supply was limited despite federal data showing domestic ethanol inventories rebounded during the week-ended Oct. 31 from a five-month low posted a week prior.
The data showed ethanol stockpiles increased 130,000 bbl to 17.169 million bbl. "I think it is that people need ethanol and can't find any," said a source. Prompt Argo ethanol traded at $1.86 and offered at $1.90 per gallon, up 3.5 cents on the session, while prompt northern California ethanol traded at $2.11 per gallon, up 3.0 cents on the session.
George Orwel can be reached at george.orwel@telventdtn.com
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