T2 ethanol prices falls to lowest since May 15

In the Netherlands, prices for T2 ethanol slid to their lowest since May 15 and their largest intra-day slide since Jan. 1 as the market looked for a price floor in the midst of low demand with some traders expecting prices to settle around EUR500 per cubic meter. For the first time in nearly a year, the two front month contracts moved out of backwardation last week and was assessed flat. Demand is likely to pick up in Q2 as the spring and summer driving season looks to pick up.