European ethanol prices providing cautious optimism for recovery

In the Netherlands, European ethanol prices are slowly increasing but it’s an achingly painful process to watch. Prices reached EUR450 per cubic meter on Wednesday, the highest seen in 15 days, thanks to blenders using up current stocks and producers only offering spot supplies. As such, there is cautious optimism the market might return to the higher levels seen in early March, but a contango remains in the market through June. Maintenance season may help to support prices further but will not likely pull it out of contango.