1. Ethanol, Fuels and Co-Product Pricing
Market Outlook: U.S. ethanol prices are lower this week even as broader energy markets struggle. March CBOT ethanol futures are down 0.6 percent from last week while Midwest wholesale rack ethanol prices are down 0.2 percent at 39.61 cents/liter (149.93 cents/gallon).
FOB Houston ethanol prices are down 0.389 cents/liter (1.47 cents/gallon) from last week, a 1 percent decrease. FOB Gulf gasoline prices have stabilized after their recent runup, capping ethanol market gains. FOB Santos ethanol prices fell 1.4 percent last week (down 0.893 cents/liter to 61.301 cents/gallon or falling 3.38 cents/gallon to 232.05 cents/gallon).
In early week trading, FOB Houston-Santos spread is narrowing further, increasing 0.504 cents/liter (1.91 cents/gallon) to its last quote of -21.84 cents/liter (-82.67 cents/gallon). Friday’s close of -84.58 cents/liter marked a strong move higher after setting a new six-month low.
MTBE prices are 4.5 percent lower in early week trading at 57.82 cents/liter (218.88 cents/gallon). FOB U.S. Gulf MTBE is now 18.36 cents/liter (69.50 cents/gallon) higher than FOB Houston ethanol.
BTX component prices are mixed in early week trading, with benzene prices down 5.2 percent, toluene up 1.7 percent, and xylene up 2.2 percent. The estimated weighted average aromatic price is currently 71.87 cents/liter (/gallon), up 1 percent from last week. The weighted average BTX price is 32.41 cents/liter (122.7 cents/gallon) higher than FOB Houston ethanol prices.
Gasoline and petroleum products are lower to start this week. RBOB futures are down 0.8 percent (down 0.39 cents/liter or 1.49 cents/gallon) while 84 octane RBOB and 87 octane CBOB are each 1.5 percent lower. WTI crude oil futures are down 3 cents/barrel from last week while Brent futures have lost 1 cent/barrel.
Price Database: If you are interested in historical price data, please click here.