Ethanol Market and Pricing Data – November 11, 2020

Ethanol, Fuels and Co-Product Pricing

Market Outlook: U.S. ethanol prices ended last week 2.3 percent higher and are continuing that trend in early week trading, up 1 percent through Tuesday’s close. Midwest wholesale rack ethanol prices were higher to end last week but are down 0.1 percent through Tuesday’s market close to their last quote of 43 cents/liter (162.76 cents/gallon).

FOB Houston ethanol prices finished last week 4 percent lower but are up 2 percent through Tuesday’s trading from Friday’s close. FOB Houston ethanol prices are quoted at 42.72 cents/liter (161.7 cents/gallon). FOB Santos, Brazil anhydrous ethanol prices were lower last week; they are up in early week trading, rising 4.1 percent to 47.73 cents/liter (180.675 cents/gallon) through Tuesday’s trading.

The FOB Gulf-Santos, Brazil ethanol spread has widened from last week’s close through Tuesday’s trading and is currently at -5.01 cents/liter (-18.98 cents/gallon).

MTBE prices fell 3.2 percent last week but are reversing those losses in early week trading, up 3 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 -10.98 cents/liter (-41.57 cents/gallon).

BTX component prices were mixed last week and are sharply higher through Tuesday’s market close: Benzene is up 0.1 percent while Toluene is up 2.3 percent, and Xylene is up 2.2 percent. The estimated weighted average aromatic price is currently 41.24 cents/liter (156.1 cents/gallon), up from last Friday’s close. The BTX-Houston ethanol spread narrowed last week, and the weighted average BTX price is -1.48 cents/liter (-5.6 cents/gallon) lower than the FOB Houston ethanol price.

Gasoline and petroleum products were higher last week and are aggressively adding to those gains in early week trading. RBOB futures are up 10.7 percent to start the week while 84 octane RBOB (Houston) and 87 octane CBOB (U.S. Gulf) gasoline prices are up 10.6 and up 7.4 percent, respectively. WTI futures are 12.4 percent higher at $41.75/barrel while Brent futures are up 10.5 percent to $43.61/barrel, from Friday through Tuesday’s close.

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