立即注册,

不到 60 秒您即可继续访问:最新资讯提要分析主题和专题大宗商品视频、播客和博客样本市场价格和数据专题报道订阅用户通知和每日大宗商品电子邮件提醒

已有帐户?

登录以注册

忘记密码

请注意:Platts Market Center 订阅用户只能通过 Platts Market Center 重置密码

请在下面输入您的电子邮件 ID,我们将给您发送一封包含您密码的电子邮件。


  • 电子邮件地址* 请输入电子邮件地址。

如果您是高级订阅用户,出于安全原因,我们无法向您发送您的密码。请联系客服团队

如果您是 Platts Market Center 订阅用户,若要重置密码,请转到 Platts Market Center 重置您的密码。

在此列表中
石油

US ethanol crush margin recovers from negative territory on Argo rally

天然气 | 石油

Platts 情景规划服务

Bunker Fuel | 石油 | 原油 | 液化石油气 (LPG) | 石油风险 | 成品油 | 燃料油 | 汽油 | 航油 | 石脑油

appec

金属

分析师:铜矿减产与疲软需求相抵消,支撑价格

US ethanol crush margin recovers from negative territory on Argo rally

Houston — The US ethanol crush margin remained positive Thursday as it recovered from the first dip into negatives since early 2016.

尚未注册?

接收每日电子邮件提醒、订阅用户通知并获得个性化体验。

立即注册

It rose to 2.30 cents/gal Thursday from 1.72 cents/gal on Wednesday. The margin fell as low as minus 0.23 cent/gal on Monday.

The recovery was largely due to a bullish number in the US Energy Information Administration's weekly ethanol production and stock data.

Though the total production and stock numbers in the weekly EIA data were only modestly lower, a draw in Midwest inventories bolstered prices.



The Midwest hosts most of the ethanol plants in the US and Kinder Morgan's Argo, Illinois, terminal, the busiest hub of ethanol trade in the US.

Stock levels in the region and in the terminal have been high for several weeks with two consecutive weeks of increases before a 282,000 barrel fall in the week ended December 15.

Inventories in the region did remain 1.546 million barrels higher than the same week last year, but the reduction in inventories provided some breathing room for prices.

Those high stocks in Argo were the initial catalyst for sending the crush margin plunging.

The S&P Global Platts Argo assessment fell to a 12-year low of $1.2370/gal on December 15 from $1.3350/gal on December 8.

A simple crush margin can be calculated by dividing the cost of corn per bushel by 2.8, the number of gallons of ethanol that a bushel of corn can produce. The resulting number is the cost of corn per gallon of ethanol.

--Josh Pedrick, joshua.pedrick@spglobal.com
--Edited by Derek Sands, derek.sands@spglobal.com