US fuel ethanol spot prices rise on lower inventories

08 May 2013 21:26  [Source: ICIS news]

HOUSTON (ICIS)--US fuel ethanol spot prices were assessed stronger on Wednesday week on week, as lower inventories outweighed weaker corn prices.

Corn futures settled at $6.75/bushel (€5.13/bushel) for the prompt May contract, down from $6.82/bushel last week.

Additionally, ethanol inventories fell for the second week in a row, and there were no imports for the week ended on 3 May.

Midwest prices were stronger at $2.73-2.75/gal compared with $2.62-2.63/gal last week, while Chicago prices were also stronger at $2.68-2.70/gal compared with $2.57-2.58/gal last week.

Southern California spot prices rose to $2.93-2.95/gal from $2.73-2.76/gal, and New York Harbor prices were up to $2.90-2.92/gal from $2.61-2.62/gal the previous week.

($1 = €0.76)

By: Bobbie Clark
+1 713 525 2653

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