Chicago Argo at five-month low as production and stocks weigh

In Illinois, Chicago Argo ethanol prices sunk to $1.4205/gal, the lowest in five months, as large stocks of 21.115 million barrels and ever-higher record production of 1.054 million b/d weighed on prices. Stocks increased by more than 1 million barrels while gasoline demand fell to a two-year low. With demand having fallen off from China and Brazil not likely to book many more imports before starting the sugarcane crush back up in April, stocks have nowhere to go other than to push prices down.