Ethanol Market and Pricing Data – May 21, 2019

Ethanol, Fuels and Co-Product Pricing

Market Outlook: U.S. ethanol prices ended last week up 4.5 percent; they continue up this week (+2.1 percent) in early week trading. Midwest wholesale rack ethanol prices were up 0.7 percent to end last week; they continue up this week at 39.37 cents/liter (149.04 cents/gallon) through Tuesday’s trading.

FOB Houston ethanol prices finished last week up slightly; prices are up 1.8 percent through Tuesday’s trading from Friday’s close. FOB Houston ethanol prices are quoted at 38.32 cents/liter (145.06 cents/gallon). FOB Santos, Brazil ethanol prices ended last week down 1.2 percent; they are down 2.0 percent from Friday’s close and stand at 50.32 cents/liter (190.50 cents/gallon) through Tuesday’s trading.

The FOB Gulf-Santos, Brazil spread narrowed from last week’s close through Tuesday’s trading and is currently at -12.00 cents/liter (-45.43 cents/gallon).

MTBE prices were down to end last week; they are up (+1.6 percent) to start this week. MTBE’s premium to FOB Houston ethanol widened slightly from last week and now stands at 14.44 cents/liter (54.67 cents/gallon).

BTX component prices were down across the board to end last week and are mixed through Tuesday’s trading: Benzene is up 1.4; Toluene is down 0.4 percent and Xylene is down 0.6 percent. The estimated weighted average aromatic price is currently 69.14 cents/liter (261.71 cents/gallon), down 0.3 percent from last Friday’s close. The BTX-Houston ethanol spread narrowed from last week; the weighted average BTX price is now 30.81 cents/liter (116.65 cents/gallon) higher than the FOB Houston ethanol price.

Gasoline and petroleum products were up to end last week and are mixed through early-week trading. Regarding RBOB futures, 84 (Houston) and 87 (U.S. Gulf) octane gasoline prices are down 2.6 percent and 1.3 percent, respectively. WTI futures are up 0.3 percent to $62.95/barrel while Brent futures are unchanged at $72.18/barrel, from Friday’s close through Tuesday’s trading.

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