Ethanol Blog
Spot Ethanol Prices Weaken with Bearish Fundamentals
Spot ethanol prices fell at the Argo terminal near Chicago to a three-week low on excess supply and a lack of blending demand, with bearish fundamentals pressuring spot prices across the country Tuesday.
Product shipments haven't been disrupted by bad weather, with expectations for the Northeast to see mild weather for the next 10 days after a harsh February.
The same is true for the South, which has been hit by a snowstorm over the past two days, although Houston stayed above freezing.
Prompt Argo ethanol traded at $1.355 per gallon, down 1.75 cents. Any February Argo ethanol changed hands at $1.345 per gallon. Chicago Rule 11 ethanol for this week shipment traded at $1.38 per gallon, unchanged from a day prior.
George Orwel can be reached at george.orwel@telventdtn.com
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