Ethanol Blog
Spot Ethanol Prices Pressured Again by Excess Supply
Spot ethanol prices fell sharply across the board midday Wednesday after the Energy Information Administration released data that showed domestic ethanol inventories rocketed last week to an 18.8 million bbl 18-month high while plant production rose to a 931,000 bpd four-month high and demand dropped to an 846,000 bpd 4 1/2-month low.
Prompt ethanol at the Argo hub near Chicago traded at $1.80 per gallon for a daily loss of 5.75 cents while prompt New York Harbor ethanol barge was pegged at a $1.80 to $1.82 per gallon and lost 7.0 cents. Spot Arizona ethanol traded at $1.99 per gallon before the EIA data was made public and at $1.93 per gallon after the data's release, down 11.0 cents amid excess supply.
George Orwel can be reached at george.orwel@telventdtn.com.
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