Ethanol Market and Pricing Data – November 17, 2021

Ethanol, Fuels and Co-Product Pricing

Market Outlook: U.S. ethanol prices ended last week 1.5 percent higher but are consolidating in early week trading, down 0.3 percent through Tuesday’s close. Midwest wholesale rack ethanol prices were higher to end last week and are up 1.8 percent through Tuesday’s market close to their last quote of 90.58 cents/liter (342.89 cents/gallon).

FOB Houston ethanol prices finished last week 8.1 percent higher and are up 2.5 percent through Tuesday’s trading from Friday’s close. FOB Houston ethanol prices are quoted at 89.49 cents/liter (338.74 cents/gallon). FOB Santos, Brazil anhydrous ethanol prices were higher last week; they are down in early week trading, falling 1.1 percent to 84.2 cents/liter (318.715 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 5.29 cents/liter (20.03 cents/gallon).

MTBE prices rose 2.1 percent last week and are adding to those gains in early week trading, up 2.7 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 -20.15 cents/liter (-76.29 cents/gallon).

BTX component prices were mixed last week and remain so through Tuesday’s market close: Benzene is up 0.7 percent while Toluene is down 0.4 percent, and Xylene is down 2.3 percent. The estimated weighted average aromatic price is currently 79.03 cents/liter (299.18 cents/gallon), down from last Friday’s close. The BTX-Houston ethanol spread narrowed last week, and the weighted average BTX price is -10.45 cents/liter (-39.57 cents/gallon) lower than the FOB Houston ethanol price.

Gasoline and petroleum products were lower last week but are rising in early week trade. RBOB futures are up 1.7 percent to start the week while 84 octane RBOB (Houston) and 87 octane CBOB (U.S. Gulf) gasoline prices are unchanged and down 0.1 percent, respectively. WTI futures are steady with Friday’s close at $80.76/barrel while Brent futures are up 0.1 percent from Friday to $82.26/barrel through Tuesday’s close.

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