Ethanol, Fuels and Co-Product Pricing
Market Outlook: U.S. ethanol prices ended last week 1.7 percent lower but are taking back some of those losses in early week trading, up 2.5 percent through Tuesday’s close. Midwest wholesale rack ethanol prices were lower to end last week but are up 3.3 percent through Tuesday’s market close to their last quote of 46.53 cents/liter (176.12 cents/gallon).
FOB Houston ethanol prices finished last week 0 percent higher and are up 2.5 percent through Tuesday’s trading from Friday’s close. FOB Houston ethanol prices are quoted at 47.43 cents/liter (179.54 cents/gallon). FOB Santos, Brazil anhydrous ethanol prices were higher last week; they are up in early week trading, rising 2.6 percent to 51.02 cents/liter (193.15 cents/gallon) through Tuesday’s trading.
The FOB Gulf-Santos, Brazil ethanol spread has widened from last week’s close through Tuesday’s trading and is currently at -3.59 cents/liter (-13.61 cents/gallon).
MTBE prices rose 0.7 percent last week and are extending those gains in early week trading, up 0 percent from Friday’s close through Tuesday’s trading. MTBE’s premium to FOB Houston ethanol has decreased from last week’s report and stands at -3.05 cents/liter (-11.53 cents/gallon).
BTX component prices were sharply higher last week and are higher through Tuesday’s market close: Benzene is up 1.1 percent while Toluene is up 2.6 percent, and Xylene is up 1.4 percent. The estimated weighted average aromatic price is currently 59.05 cents/liter (223.54 cents/gallon), up from last Friday’s close. The BTX-Houston ethanol spread narrowed last week, and the weighted average BTX price is 11.62 cents/liter (44 cents/gallon) higher than the FOB Houston ethanol price.
Gasoline and petroleum products were higher last week and are extending those gains that trend in early week trading. RBOB futures are up 4.9 percent to start the week while 84 octane RBOB (Houston) and 87 octane CBOB (U.S. Gulf) gasoline prices are up 6.3 and up 6.2 percent, respectively. WTI futures are 0.8 percent higher at $59.95/barrel while Brent futures are up 1.5 percent to $63.35/barrel, from Friday through Tuesday’s close.
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