New York Harbor ethanol prices continue to fall weighed down by oversupplies

In New York state, ethanol prices continue to fall in the New York Harbor region due to oversupply, bringing prices down to their lowest since March at $1.50/gal. Even with prices so low, some barges have been traded at a 2 cent per gallon discount to second-month prices for prompt delivery. Though stocks fell last week, they were still 127,000 barrels higher than during the same period in 2015. Excess supplies have weighed on prices for at least a month.