NY Harbor premium over Chicago Argo slips as growing stocks weigh on demand

In Illinois, as the US ethanol market sees record production levels, nine-month highs of stocks and a switch to negative crush margins, the premium for New York Harbor above Chicago Argo narrowed to 6.75 cents on Friday from 8 cents the week before. Increased inventories in the East Coast region have weighed on demand, pulling down NY Harbor prices with it. Ethanol production averaged 1.055 million barrels per day in January, hitting a high of 1.061 million b/d the last week of the month.