Ethanol Blog
Spot Ethanol Prices Ease on Renewed Demand Worries
Spot ethanol prices stepped back today from last week's rally, falling across the main trade hubs amid fresh demand concerns and selling pressure in corn and oil futures.
"The gasoline versus ethanol switch has become too narrow," said a trade source this morning. "Lower gasoline demand and (the market is) less competitive."
Prompt delivered ethanol at Argo was talked early at $1.74 to $1.77 per gallon, down 2.5 cents on the session. Chicago ethanol traded under Rule 11 for this week shipment to New York and the Gulf Coast traded 3.0 cents lower at $1.81 per gallon. New York Harbor October barge was pegged at $1.95 per gallon, down 1.5 cents.
George Orwel can be reached at george.orwel@telventdtn.com
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