Ethanol, Fuels and Co-Product Pricing
Market Outlook: U.S. ethanol prices ended last week up almost 1 percent but are down slightly (-0.7 percent) in early week trading. Midwest wholesale rack ethanol prices were unchanged to end last week; they are mostly unchanged this week at 38.82 cents/liter (146.94 cents/gallon) through Tuesday’s trading.
FOB Houston ethanol prices finished last week up 1.1 percent; prices are up 1.3 percent through Tuesday’s trading from Friday’s close. FOB Houston ethanol prices are quoted at 38.48 cents/liter (145.68 cents/gallon). FOB Santos, Brazil ethanol prices ended last week up 1.9 percent; they are down 3.3 percent from Friday’s close and stand at 54.83 cents/liter (207.58) cents/gallon) through Tuesday’s trading.
The FOB Gulf-Santos, Brazil spread narrowed from last week’s close through Tuesday’s trading and is currently at -16.35 cents/liter (-61.89 cents/gallon).
MTBE prices were down fractionally to end last week; they are up 1.1 percent to start this week. MTBE’s premium to FOB Houston ethanol narrowed slightly from last week and now stands at 18.24 cents/liter (69.05 cents/gallon).
BTX component prices were mixed to end last week and remain so through Tuesday’s trading: Benzene is up 2.5 percent, Toluene is up 0.3 percent and Xylene is down 0.6 percent. The estimated weighted average aromatic price is currently 71.70 cents/liter (271.42 cents/gallon), down slightly from last Friday’s close. The BTX-Houston ethanol spread widened from last week; the weighted average BTX price is 33.21 cents/liter (125.73 cents/gallon) higher than the FOB Houston ethanol price.
Gasoline and petroleum products were up to end last week and continue up through early-week trading. In terms of RBOB futures, 84 (Houston) and 87 (U.S. Gulf) octane gasoline prices are up 0.3 percent and 1.1 percent, respectively. WTI futures are up 3.6 percent to $66.39/barrel and Brent futures are up 3.6 percent to $74.59/barrel, from Friday’s close through Tuesday’s trading.
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