Ethanol, Fuels and Co-Product Pricing
Market Outlook: U.S. ethanol prices ended last week 9 percent higher but are reversing those gains in early week trading, down 6.6 percent through Tuesday’s close. Midwest wholesale rack ethanol prices were lower to end last week and are down 1.3 percent through Tuesday’s market close to their last quote of 32.24 cents/liter (122.04 cents/gallon).
FOB Houston ethanol prices finished last week 11.6 percent lower and are down 1.1 percent through Tuesday’s trading from Friday’s close. FOB Houston ethanol prices are quoted at 26.07 cents/liter (98.68 cents/gallon). FOB Santos, Brazil anhydrous ethanol prices were lower last week; they are down in early week trading, falling 5 percent to 38.61 cents/liter (146.15 cents/gallon) through Tuesday’s trading.
The FOB Gulf-Santos, Brazil ethanol spread has narrowed from last week’s close through Tuesday’s trading and is currently at -12.54 cents/liter (-47.48 cents/gallon).
MTBE prices fell 33.6 percent last week and have posted further losses in early week trading, down 18.1 percent from Friday’s close through Tuesday’s trading. MTBE’s premium to FOB Houston ethanol has decreased from last week’s report and stands at -10.39 cents/liter (-39.34 cents/gallon).
BTX component prices were sharply lower last week and are continuing that trend through Tuesday’s market close: Benzene is down 14.8 percent while Toluene is down 7.7 percent, and Xylene is down 7.8 percent. The estimated weighted average aromatic price is currently 26.54 cents/liter (100.45 cents/gallon), down from last Friday’s close. The BTX-Houston ethanol spread narrowed last week, and the weighted average BTX price is 0.47 cents/liter (1.78 cents/gallon) higher than the FOB Houston ethanol price.
Gasoline and petroleum products were lower last week and have mostly continued that trend in early week trading. RBOB futures are down 8.2 percent to start the week while 84 octane RBOB (Houston) and 87 octane CBOB (U.S. Gulf) gasoline prices are down 4.2 and up 0.9 percent, respectively. WTI futures are 5.8 percent lower at $20.27/barrel while Brent futures are down 5.7 percent to $26.35/barrel, from Friday through Tuesday’s close.
Price Database: If you are interested in historical price data, please click here.