US industrial ethanol producer confirms initial rollover for Q2

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)

 

By: Brian Balboa
+1 713 525 2653

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