Ethanol Market and Pricing Data
Market Outlook: U.S. ethanol prices were up to close last week but are down slightly as this holiday shortened week gets underway. Nearby CBOT ethanol futures are down 1.4 percent from Friday in tandem with the broader energy complex. Midwest wholesale rack ethanol prices are down 0.3 percent from Friday, at 41.54 cents/liter (157.23 cents/gallon).
FOB Houston ethanol prices finished last week 0.8 percent higher but are down 0.2 percent through Tuesday. FOB Houston prices are quoted at 39.294 cents/liter (148.744 cents/gallon), a weekly decrease of -0.094 cents/liter (-0.36 cents/gallon).
FOB Santos, Brazil ethanol prices continue to fall, down 1.3 percent by Friday’s close. This week, prices are 3.3 percent lower at 49.308 cents/liter (186.650 cents/gallon). Seasonally, FOB Brazil ethanol prices rebound following the sugar cane harvest and heading into June/July/August.
This week the FOB Gulf-Santos, Brazil ethanol price spread is -10.041 cents/liter (-37.906 cents/gallon).
MTBE prices were up slightly last week (up 0.8 percent by Friday), ending a four-week downturn. MTBE FOB U.S. Gulf prices are 2.7 percent higher through Tuesday’s trading and are at a 22.359 cents/liter (84.64 cents/gallon) premium to FOB Houston ethanol.
BTX component prices are mixed to start the week. Benzene prices finished last week unchanged and are down 0.4 percent so far this week. Toluene prices fell 0.7 percent last week and are 1.9 percent lower this week, while xylene prices dropped 0.5 percent last week and are 1.3 percent higher this week. The estimated weighted average aromatic price is currently 71.33 cents/liter (270.00 cents/gallon), up 0.1 percent from Friday’s close. The weighted average BTX price is 32.033 cents/liter (121.26 cents/gallon) higher than FOB Houston ethanol prices.
Gasoline and petroleum products are down in early week trading, following last week’s price gains. RBOB futures are down 1.3 percent from Friday’s close; FOB Gulf/Houston prices for 84 octane RBOB and 87 octane CBOB are both down from Friday as well. WTI crude oil futures are up from Friday’s close while Brent futures are down.
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