Ethanol Market and Pricing Data – January 22, 2019

Ethanol, Fuels and Co-Product Pricing

Market Outlook: U.S. ethanol prices ended last week down and continue down in early week trading (-0.6 percent). Midwest wholesale rack ethanol prices were down 0.7 percent to end last week; they are unchanged to start this week with prices at 37.12 cents/liter (140.50 cents/gallon) through Tuesday’s trading.

FOB Houston ethanol prices finished last week down 0.8 percent; prices are unchanged through Tuesday’s trading from Friday’s close. FOB Houston ethanol prices are quoted at 36.48 cents/liter (138.11 cents/gallon). FOB Santos, Brazil ethanol prices ended last week down 0.5 percent; prices continue down from Friday’s close and stand at 50.72 cents/liter (192.00 cents/gallon) through Tuesday’s trading.

The FOB Gulf-Santos, Brazil spread narrowed from last week’s close through Tuesday’s trading and is currently at -14.23 cents/liter (-53.88 cents/gallon).

MTBE prices were down fractionally to end last week after a significant jump higher from the week prior; they are down over 1 percent to start this week. MTBE’s premium to FOB Houston ethanol narrowed from last week and now stands at 8.73 cents/liter (33.05 cents/gallon).

BTX component prices were up to end last week and are mixed through Tuesday’s trading, with Benzene prices down fractionally, Toluene prices up 1.3 percent and Xylene prices up 1.1 percent. The estimated weighted average aromatic price is currently 55.36 cents/liter (209.56 cents/gallon), up 1 percent from last Friday’s close. The BTX-Houston ethanol spread widened again from last week; the weighted average BTX price is 18.87 cents/liter (71.45 cents/gallon) higher than the FOB Houston ethanol price.

Gasoline and petroleum products were up across the board to end last week but have fallen through early week trading. This week, RBOB futures are down; 84 (Houston) octane gasoline prices are down 3 percent and 87 (U.S. Gulf) octane gasoline prices are unchanged. WTI futures are down 2.7 percent to $52.57/barrel, and Brent futures are down 1.9 percent to $61.50/barrel, from Friday’s close through Tuesday’s trading.

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