Governors' Biofuels Coalition

Spot ethanol prices were discussed slightly higher in Chicago and New York markets, buoyed by gains for Chicago Board of Trade corn futures that, in turn, were boosted by a rally in the wheat and soybean markets.

Trade sources said expectations for lower production of grains were behind the upside for grains prices. Prompt delivered ethanol at the Argo supply hub in the Chicago region market was shown at $1.555 per gallon, up 1.0 cent. New York Harbor ethanol barges for April and May shipment were pegged at $1.63 per gallon, up 1.0 cent.

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