Ethanol Blog
Spot Ethanol Prices Retreat on Supply Overhang
Spot ethanol prices retreated Wednesday after new data from the Energy Information Administration showed domestic ethanol inventories rose for the sixth straight week to a 2 1/2 year high while demand fell during the week-ended Jan. 30.
Ethanol stocks rose 400,000 bbl to 21.0 million bbl, pushing stocks up 25.4% year-over-year while demand fell 12,000 bpd to 830,000 bpd. Today in-tank transfer ethanol at Argo is valued at $1.40 per gallon, down 2.0 cents. New York Harbor February barged ethanol talked at $1.55 per gallon, down 3.0 cents, and Northern California was discussed wide in a $1.52 to $1.59 per gallon bid/ask spread, down 3.0 cents.
George Orwel can be reached at george.orwel@telventdtn.com
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