Ethanol, Fuels and Co-Product Pricing
Market Outlook: U.S. ethanol prices were close to unchanged to end last week. This week, nearby CBOT ethanol futures are up nearly 1 percent from Friday’s close in tandem with rising corn prices. Midwest wholesale rack ethanol prices were down to end last week but are up 1.5 percent from Friday’s close at 38.69 cents/liter (146.46 cents/gallon).
FOB Houston ethanol prices finished last week down over 4 percent but are starting to rebound this week, up 2.6 percent through Tuesday’s trading. FOB Houston prices are quoted at 37.224 cents/liter (140.906 cents/gallon). FOB Santos, Brazil ethanol prices ended last week down, but they are up this week with FOB Santos, Brazil prices at 47.997 cents/liter (181.690 cents/gallon) through Tuesday’s trading.
The FOB Gulf-Santos, Brazil spread has widened from last week’s close through Tuesday’s trading and is currently at -10.774 cents/liter (-40.784 cents/gallon).
MTBE prices were down to end last week but are up through early week trading. MTBE’s premium to FOB Houston ethanol decreased, with the spread narrowing from last week.
BTX component prices were mixed to end last week and continue mixed through Tuesday’s trading. The estimated weighted average aromatic price is currently 73.28 cents/liter (277.40 cents/gallon), down nearly 1 percent from Friday’s close. The BTX-Houston ethanol spread narrowed slightly, with the weighted average BTX price now 36.058 cents/liter (136.49 cents/gallon) higher than FOB Houston ethanol prices.
Gasoline and petroleum products are down in early week trading. RBOB futures are down from Friday’s close; FOB Gulf/Houston prices for 84 octane RBOB and 87 octane CBOB are down fractionally. WTI and Brent crude oil futures ended last week up and are up down slightly through Tuesday’s trading.
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