Ethanol Market and Pricing Data – December 26, 2018

Ethanol, Fuels and Co-Product Pricing

Market Outlook: U.S. ethanol prices ended last week down 1.9 percent but are mostly unchanged through Wednesday’s trading amid a quiet holiday week. Midwest wholesale rack ethanol prices were down fractionally to end last week; they are up 0.6 percent to start this week with prices at 37.20 cents/liter (140.83 cents/gallon) through Wednesday’s trading.

FOB Houston ethanol prices finished last week mostly unchanged; prices are up slightly through Wednesday’s trading (0.8 percent) from Friday’s close. FOB Houston ethanol prices are quoted at 34.995 cents/liter (132.469 cents/gallon). FOB Santos, Brazil ethanol prices ended last week mostly unchanged; prices are down 1.3 percent from Friday’s close and stand at 50.116 cents/liter (189.71 cents/gallon) through Wednesday’s trading.

The FOB Gulf-Santos, Brazil spread narrowed fractionally from last week’s close through Wednesday’s trading and is currently at -15.122 cents/liter (-57.241 cents/gallon).

MTBE prices were down nearly 4 percent to end last week and continue down through this week’s trading. MTBE’s premium to FOB Houston ethanol stands at 8.605 cents/liter (32.57 cents/gallon).

BTX component prices were down to end last week and are down across the board through Wednesday’s trading, with Benzene prices down 4.8 percent, Toluene prices down 5.9 percent and Xylene prices down 3.1 percent. The estimated weighted average aromatic price is currently 51.20 cents/liter (193.82 cents/gallon), down 4.2 percent from last Friday’s close. The BTX-Houston ethanol spread narrowed this week; the weighted average BTX price remains 16.207 cents/liter (61.35 cents/gallon) higher than FOB Houston ethanol prices.

Gasoline and petroleum products were down to end last week amid continued macroeconomic pressure and weakness in equities. This week, RBOB futures are down factionally; 84 (Houston) and 87 (U.S. Gulf) octane gasoline prices both up nearly 1 percent. WTI futures are down fractionally to $45.41/barrel, and Brent futures are mostly unchanged at $53.76/barrel from Friday’s close through Wednesday’s trading.

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