Ethanol, Fuels and Co-Product Pricing
Market Outlook: U.S. ethanol prices ended last week up fractionally but have fallen back 1.2 percent in early week trading. Midwest wholesale rack ethanol prices were down 1 percent to end last week; they are unchanged to start this week with prices at 37.32 cents/liter (141.29 cents/gallon) through Tuesday’s trading.
FOB Houston ethanol prices finished last week up 2.6 percent; prices are unchanged through Tuesday’s trading from Friday’s close. FOB Houston ethanol prices are quoted at 36.779 cents/liter (139.225 cents/gallon). FOB Santos, Brazil ethanol prices ended last week up 2.3 percent; prices continue up from Friday’s close and stand at 52.029 cents/liter (196.95 cents/gallon) through Tuesday’s trading.
The FOB Gulf-Santos, Brazil spread widened from last week’s close through Tuesday’s trading and is currently at -15.249 cents/liter (-57.725 cents/gallon).
MTBE prices were up nearly 5 percent to end last week and continue up to start this week. MTBE’s premium to FOB Houston ethanol widened again from last week and now stands at 9.552 cents/liter (36.16 cents/gallon).
BTX component prices were mostly up to end last week and are up significantly through Tuesday’s trading, with Benzene prices up 5.5 percent, Toluene prices up 2.6 percent and Xylene prices up 4.2 percent. The estimated weighted average aromatic price is currently 54.50 cents/liter (206.31 cents/gallon), up 3.9 percent from last Friday’s close. The BTX-Houston ethanol spread widened from last week; the weighted average BTX price is 17.726 cents/liter (67.10 cents/gallon) higher than the FOB Houston ethanol price.
Gasoline and petroleum products were up across the board to end last week. This week, RBOB futures are mixed; 84 (Houston) and 87 (U.S. Gulf) octane gasoline prices are up 2.6 percent and down 1.9 percent, respectively. WTI futures are up 0.7 percent to $51.92/barrel, and Brent futures are up fractionally to $60.64/barrel, from Friday’s close through Tuesday’s trading.
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