Ethanol Market and Pricing Data – January 14, 2020

Ethanol, Fuels and Co-Product Pricing

Market Outlook: U.S. ethanol prices ended last week 1.2 percent lower but have reversed that trend in early week trading, up 0.8 percent through Tuesday’s close. Midwest wholesale rack ethanol prices were lower to end last week and are down 0.3 percent through Tuesday’s market close to their last quote of 37.64 cents/liter (142.49 cents/gallon).

FOB Houston ethanol prices finished last week 3.9 percent lower, but prices are up 2.1 percent through Tuesday’s trading from Friday’s close. FOB Houston ethanol prices are quoted at 38.32 cents/liter (145.06 cents/gallon). FOB Santos, Brazil anhydrous ethanol prices were sharply higher last week; they are down early this week, falling 3.2 percent to 57.06 cents/liter (216.00 cents/gallon) through Tuesday’s trading.

The FOB Gulf-Santos, Brazil ethanol spread narrowed from last week’s close through Tuesday’s trading and is currently at -18.74 cents/liter (-70.94 cents/gallon).

MTBE prices fell 5.8 percent last week and have extended those losses in early week trading, down 2.6 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 19.94 cents/liter (75.48 cents/gallon).

BTX component prices were mostly higher last week and have continued that trend through Tuesday’s market close: Benzene is up 0.3 percent while Toluene is up 0.4 percent, and Xylene is up 0.1 percent. The estimated weighted average aromatic price is currently 61.88 cents/liter (234.26 cents/gallon), down from last Friday’s close. The BTX-Houston ethanol spread narrowed last week, and the weighted average BTX price is 23.56 cents/liter (89.20 cents/gallon) higher than the FOB Houston ethanol price.

Gasoline and petroleum products were lower last week and have continued that trend in early week trading. RBOB futures are down 0.3 percent to start the week while 84 octane RBOB (Houston) and 87 octane CBOB (U.S. Gulf) gasoline prices are down 0.5 and 0.4 percent, respectively. WTI futures are 1.4 percent lower at $58.23/barrel while Brent futures are down 0.8 percent to $64.46/barrel, from Friday close through Tuesday’s close.

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