Ethanol Market and Pricing Data – January 29, 2019

Ethanol, Fuels and Co-Product Pricing

Market Outlook: U.S. ethanol prices ended last week up slightly but are down in early week trading (-0.5 percent). Midwest wholesale rack ethanol prices were down 0.5 percent to end last week; they are unchanged to start this week with prices at 36.88 cents/liter (139.60 cents/gallon) through Tuesday’s trading.

FOB Houston ethanol prices finished last week down 0.4 percent; prices continue down slightly through Tuesday’s trading from Friday’s close. FOB Houston ethanol prices are quoted at 36.15 cents/liter (136.84 cents/gallon). FOB Santos, Brazil ethanol prices ended last week down 2.2 percent; prices continue down from Friday’s close and stand at 50.24 cents/liter (190.20 cents/gallon) through Tuesday’s trading.

The FOB Gulf-Santos, Brazil spread narrowed fractionally from last week’s close through Tuesday’s trading and is currently at -14.09 cents/liter (-53.35 cents/gallon).

MTBE prices were down 1.4 percent to end last week; they are down nearly 2 percent to start this week. MTBE’s premium to FOB Houston ethanol narrowed slightly from last week and now stands at 8.04 cents/liter (30.44 cents/gallon).

BTX component prices were mixed to end last week and are down through Tuesday’s trading, with Benzene, Toluene and Xylene prices all down approximately 0.5 percent. The estimated weighted average aromatic price is currently 55.15 cents/liter (208.77 cents/gallon), down from last Friday’s close. The BTX-Houston ethanol spread widened again from last week, albeit slightly; the weighted average BTX price is 19.00 cents/liter (71.93 cents/gallon) higher than the FOB Houston ethanol price.

Gasoline and petroleum products were down across the board to end last week on macroeconomic signals and global trade policy dynamics, and they continue down through early week trading. This week, RBOB futures are down: 84 (Houston) and 87 (U.S. Gulf) octane gasoline prices are both down 2.6 percent. WTI futures are down 0.7 percent to $53.32/barrel, and Brent futures are down 0.7 percent to $61.21/barrel, from Friday’s close through Tuesday’s trading.

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