Ethanol Market and Pricing Data – December 17, 2019

Ethanol, Fuels and Co-Product Pricing

Market Outlook: U.S. ethanol prices ended last week 0.4 percent higher and have extended those gains in early week trading, up 0.1 percent through Tuesday’s close. Midwest wholesale rack ethanol prices were lower to end last week and are down 1.0 percent through Tuesday’s market close to their last quote of 41.11 cents/liter (155.60 cents/gallon).

FOB Houston ethanol prices finished last week 2.4 percent lower, and prices are down 0.5 percent through Tuesday’s trading from Friday’s close. FOB Houston ethanol prices are quoted at 40.63 cents/liter (153.82 cents/gallon). FOB Santos, Brazil ethanol prices were higher last week; they are up early this week, rising 0.5 percent to 58.02 cents/liter (219.62 cents/gallon) through Tuesday’s trading.

The FOB Gulf-Santos, Brazil ethanol spread widened from last week’s close through Tuesday’s trading and is currently at -17.38 cents/liter (-65.80 cents/gallon).

MTBE prices fell 0.8 percent last week and are lower in early week trading, down 1.6 percent from Friday’s close through Tuesday’s trading. MTBE’s premium to FOB Houston ethanol has increased from last week and stands at 18.93 cents/liter (71.67 cents/gallon).

BTX component prices were mixed last week and have continued that trend through Tuesday’s market close: Benzene is up 1.1 percent while Toluene is down 1.0, and Xylene is down 1.0 percent. The estimated weighted average aromatic price is currently 62.63 cents/liter (237.08 cents/gallon), down from last Friday’s close. The BTX-Houston ethanol spread narrowed last week, and the weighted average BTX price is 21.99 cents/liter (83.26 cents/gallon) higher than the FOB Houston ethanol price.

Gasoline and petroleum products were higher last week and have continued that trend in early week trading. RBOB futures are up 0.5 percent to start the week while 84 octane RBOB (Houston) and 87 octane CBOB (U.S. Gulf) gasoline prices are up 1.6 and 3.0 percent, respectively. WTI futures are up 0.8 percent to $60.58/barrel while Brent futures are up 1.3 percent to $66.10/barrel, from Friday close through Tuesday’s close.

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