Ethanol Market and Pricing Data – June 25, 2019

Ethanol, Fuels and Co-Product Pricing

Market Outlook: U.S. ethanol prices ended last week down 1.7 percent but are up 0.3 percent in early week trading. Midwest wholesale rack ethanol prices were up 0.4 percent to end last week; they continue up this week to 45.19 cents/liter (171.06 cents/gallon) through Tuesday’s trading.

FOB Houston ethanol prices finished last week higher; prices are up 0.1 percent through Tuesday’s trading from Friday’s close. FOB Houston ethanol prices are quoted at 44.675 cents/liter (169.11 cents/gallon). FOB Santos, Brazil ethanol prices ended last week down 0.2 percent; they are up slightly from Friday’s close and stand at 51.976 cents/liter (196.75 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 -7.301 cents/liter (-27.638 cents/gallon).

MTBE prices were down to end last week; they reversed 2.6 percent to start this week. MTBE’s premium to FOB Houston ethanol widened from last week and stands at 3.3818 cents/liter (14.45 cents/gallon).

BTX component prices were mostly higher to end last week and continue that trend through Tuesday’s trading: Benzene is up 12.2 percent; Toluene is up 1.7 percent and Xylene is down 2.7 percent. The estimated weighted average aromatic price is currently 66.80 cents/liter (252.86 cents/gallon), up 0.6 percent from last Friday’s close. The BTX-Houston ethanol spread narrowed from last week, but the weighted average BTX price remains 22.125 cents/liter (83.75 cents/gallon) higher than the FOB Houston ethanol price.

Gasoline and petroleum products were higher across the board to end last week and are mixed in early-week trading. RBOB futures are up 2.7 percent to start the week, while 84 octane RBOB (Houston) and 87 octane CBOB (U.S. Gulf) gasoline prices are up 1.3 percent and down 0.4 percent, respectively. WTI futures are up 2.3 percent to $58.77/barrel while Brent futures are down 0.2 percent to $65.05/barrel, from Friday’s close through Tuesday’s trading.

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