Ethanol Market and Pricing Data – May 11, 2022

Ethanol, Fuels and Co-Product Pricing

Market Outlook: U.S. ethanol prices ended last week 2.2 percent higher and extended those gains in early week trading to  rise 0.4 percent through Tuesday’s close. Midwest wholesale rack ethanol prices were higher to end last week but were down 0.7 percent through Tuesday’s market close to their last quote of 75.63 cents/liter (286.28 cents/gallon).

FOB Houston ethanol prices finished last week 0.8 percent higher but are down 0.3 percent through Tuesday’s trading from Friday’s close. FOB Houston ethanol prices are quoted at 75.55 cents/liter (285.99 cents/gallon). FOB Santos, Brazil anhydrous ethanol prices were lower last week; they are down in early week trading, falling 3.6 percent to 76.87 cents/liter (290.995 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 -1.32 cents/liter (-5.01 cents/gallon).

MTBE prices rose 6.5 percent last week and were higher still in early week trading, gaining 4.7 percent from Friday’s close through Tuesday’s trading. MTBE’s premium to FOB Houston ethanol has increased from last week’s report and stands at 34.57 cents/liter (130.86 cents/gallon).

BTX component prices were mixed last week but are sharply higher through Tuesday’s market close: Benzene was up 1.7 percent while Toluene was up 6.9 percent, and Xylene was up 7 percent. The estimated weighted average aromatic price is currently 121.48 cents/liter (459.84 cents/gallon), up from last Friday’s close. The BTX-Houston ethanol spread widened last week, and the weighted average BTX price is 45.93 cents/liter (173.86 cents/gallon) higher than the FOB Houston ethanol price.

Gasoline and petroleum products were higher last week but reversed that trend in early week trade. RBOB futures are down 4.1 percent to start the week while 84 octane RBOB (Houston) and 87 octane CBOB (U.S. Gulf) gasoline prices are down 5.6 and 5.6 percent, respectively. WTI futures are 5.5 percent lower at $103.69/barrel while Brent futures are down 5.6 percent to $106.15/barrel, from Friday through Tuesday’s close.

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