Ethanol Blog
Spot Ethanol Prices Retreat on Profit-Taking
Spot ethanol prices retreated in Chicago during a choppy trade session Friday amid pre-weekend profit-taking and lower Chicago Board of Trade corn futures.
Spot-month CBOT corn futures fell to a five-month low as forecasts for light rain and warmer weather would encourage farmers to speed up crop planting next week after a slow start.
April Argo ethanol was talked at $1.595 per gallon, down 2.0 cents, with May prices last heard at a $1.57 to $1.5825 per gallon bid/ask spread. Chicago ethanol traded under Rule 11 for next week shipment traded at $1.61 per gallon while this week shipment was talked at a $1.59 to 1.61 per gallon bid/ask spread.
George Orwel can be reached at george.orwel@telventdtn.com
(ES)
Copyright 2015 DTN/The Progressive Farmer. All rights reserved.
P[L1] D[0x0] M[300x250] OOP[F] ADUNIT[] T[]