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Ethanol’s Discount to Gasoline Narrows on Inclement Weather

Discount narrowed on speculation weather in U.S. Midwest will slow shipments of the biofuel * Discount, based on March contracts, shrank by 4.38c to 72.41/gal. *“Part of that is the supply issue with the latest storm that’s going to hit,” said Chris Krukowski, broker at SCB & Associates LLC in Chicago * Chicago forecast to get as much as 6 inches of snow overnight, according to AccuWeather * Denatured ethanol for March delivery up 4c, or 2.2%, to $1.879/gal. on CBOT; ethanol for February delivery, which expires Feb. 4, jumped 7.7c, or 4.1%, to $1.977 * Gasoline for March delivery down 38c to $2.6031/gal. on Nymex * Corn for March delivery up 6c, or 1.4%, to $4.4175/bu on CBOT * Corn crush spread, or difference between bushel of corn and gallon of ethanol, unchanged at 26c * Corn-based 2014 Renewable Identification Numbers added 3c to 44c, highest this year; 2013 corn-based RINs climbed 3.5c to 44.5c, most since Sept. 27 * SOURCE: Data compiled by Bloomberg

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