Ethanol Blog
Argo, PNW Spot Ethanol Prices Nudge Higher in Thin Trade
Spot ethanol prices were little changed, with supply at Chicago area hubs and on the Pacific Northwest up a penny each ahead of a crop inspections report due out this afternoon. The report is expected to show farmers stepped up planting of corn during the week-ended April 19.
Traders are keeping a watchful eye on ethanol inventory data for the week-ended April 17 to be issued Wednesday by Energy Information Administration. A report issued last week for the week-ended April 10 detailed demand for ethanol rising 4.7% year-over-year, while ethanol production fell 1.6% year-over-year.
Prompt delivered ethanol at the Argo supply terminal near Chicago traded at $1.60 per gallon, up 1.0 cent. Spot Pacific Northwest ethanol prices were bid at $1.68 per gallon, up 1.0 cent on the session.
George Orwel can be reached at george.orwel@telventdtn.com
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