Chicago Spot Ethanol Adds to Losses on Corn Futures Decline
Source: By George Orwel , DTN Energy Reporter • Posted: Thursday, July 7, 2016
Spot ethanol prices continued to decline Wednesday in Chicago and New York on another retreat by Chicago Board of Trade corn futures on forecasts for rain that would boost crop pollination and yield.
In cash trade, prompt delivered ethanol at the Argo supply hub in the Chicago market traded at $1.56 per gallon, down 2.5 cents for the day. Chicago ethanol under Rule 11 for this week shipment traded 1.0 cent lower at $1.55 per gallon. On the East Coast, July New York Harbor ethanol barges were talked at a $1.60 to $1.64 per gallon bid/ask spread, down 3.0 cents on the day.