29 March 2012 23:19 [Source: ICIS news]
HOUSTON (ICIS)--An industrial ethanol producer said on Thursday it has settled second-quarter industrial ethanol contracts at a rollover.
The producer was the first to announce any settlement, as none came out with any price increase letters for the second quarter.
First-quarter contracts for 200 proof ethanol were settled at $3.74–3.84/gal, (€0.74-0.76/litre) and 190 proof ethanol contracts at $3.54–3.64/gal.
Buyer reaction regarding the second-quarter has been thin.
One consumer has said contract prices should drop in the second quarter, citing weaker corn prices.
Additional second-quarter settlements are expected to emerge in early April.
Major industrial ethanol producers include Archer Daniels Midland, MGP Ingredients, Grain Processing and Golden Triangle.
($1 = €0.75)
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