New York Harbor premium over Argo shrinks to lowest in 21 months

In Chicago, the premium for New York Harbor ethanol over Chicago Argo fell to its lowest in 21 months at 1 cent per gallon on Monday. With a shrinking premium, shipments of ethanol to the East Coast from the Midwest become less likely, indicating a supplied market. Chicago Argo prices, however, are hovering at two month highs thanks to increased export demand and strong domestic price support. On Monday, New York Harbor barges stood at $1.5550/gal.