Ethanol Market and Pricing Data – November 12, 2019

Ethanol, Fuels and Co-Product Pricing

Market Outlook: U.S. ethanol prices ended last week 0.3 percent higher and have extended those gains in early week trading, up 1.1 percent through Tuesday’s close. Midwest wholesale rack ethanol prices were lower to end last week but are 1 percent higher through Tuesday’s market close to their last quote of 44.40 cents/liter (168.08 cents/gallon).

FOB Houston ethanol prices finished last week 0.1 percent higher and prices are up 2.6 percent through Tuesday’s trading from Friday’s close. FOB Houston ethanol prices are quoted at 43.32 cents/liter (163.97 cents/gallon). FOB Santos, Brazil ethanol prices were also higher last week; they are lower early this week, falling 0.3 percent to 55.79 cents/liter (211.20 cents/gallon) through Tuesday’s trading.

The FOB Gulf-Santos, Brazil ethanol spread narrowed from last week’s close through Tuesday’s trading and is currently at -12.48 cents/liter (-47.23 cents/gallon).

MTBE prices rose 0.8 percent last week but are lower in early week trading, down 0.9 percent from Friday’s close through Tuesday’s trading. MTBE’s premium to FOB Houston ethanol has increased from last week and stands at 17.05 cents/liter (64.23 cents/gallon).

BTX component prices were higher last week and have continued that trend through Tuesday’s market close: Benzene is up 2.7 percent while Toluene is up 0.4, and Xylene is up 0.4 percent. The estimated weighted average aromatic price is currently 63.33 cents/liter (239.73 cents/gallon), up from last Friday’s close. The BTX-Houston ethanol spread narrowed last week, and the weighted average BTX price is 20.02 cents/liter (75.77 cents/gallon) higher than the FOB Houston ethanol price.

Gasoline and petroleum products were mostly lower last week and have continued that trend in early week trading. RBOB futures are down 1.2 percent to start the week while 84 octane RBOB (Houston) and 87 octane CBOB (U.S. Gulf) gasoline prices are down 1.5 and 1.4 percent, respectively. WTI futures are down 0.8 percent to $56.80/barrel while Brent futures are down 0.8 percent to $61.98/barrel, from Friday close through Tuesday’s close.

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