Ethanol Blog
Spot Ethanol Prices Plunge as Supply Grows to 2-Year High
Spot ethanol values spiraled further down Wednesday, with paper prices plummeting to a 9-1/2 year low while cash prices plunged to a seven-year low after federal data showed domestic supplies soared to a two-year high. Energy Information Administration data showed inventories surged 1.4 million barrels (bbl), or 7.3%, in the week-ended Jan. 9 to 20.2 million bbl while up 25.8% year-on-year. Prompt delivered ethanol at Argo near Chicago was talked at a $1.27 to $1.31 gallon bid/ask, down 8.0 cents on the day. New York Harbor ethanol barges FOB for January was pegged at $1.43 gallon, down 10.5 cents for the day.
George Orwel can be reached at george.orwel@dtn.com
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