Ethanol prices finding trading range
FILE PHOTO
October 28, 2015
BY Rick Kment, DTN
Through the fourth quarter, the ethanol market seems to be confined to a 10-cent trading range. It’s being trapped, not only by a range-bound corn market that seems to be generally directionless, but a supply-burdened crude oil market which has pivoted around the $45 per barrel price level over the last couple of months. Ethanol prices have been wandering within the narrow trading confines between $1.50 and $1.60 per gallon as overall demand for ethanol continues to change very little.
Supply and production are moderately ahead of year ago levels at this point, but far from an alarming amount. But there seems to be very little in terms of either the corn or the energy markets that point to a major shift in price direction or near-term demand for ethanol. This could lead to additional market stability through the next several months in the ethanol and gasoline markets.
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Gasoline Prices (By Region) |
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REGION |
SPOT |
RACK |
|
West Coast |
$1.6367 |
$1.7424 |
|
Midwest |
$1.5067 | |
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$1.5518
East Coast
$1.3192
$1.4756
Front Month Futures Price (RBOB) $1.3023
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Ethanol Prices (By Region) |
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REGION |
SPOT |
RACK |
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West Coast
$1.7400
$1.8000
Midwest
$1.5650
$1.7189
East Coast
$1.7100
$2.0120
Front Month Futures Price (AC) $1.5730
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