Ethanol Market and Pricing Data – November 20, 2018

Ethanol, Fuels and Co-Product Pricing

Market Outlook: U.S. ethanol prices ended last week slightly up but have fallen through Tuesday’s trading with nearby CBOT ethanol futures down 0.9 percent from Friday’s close. Midwest wholesale rack ethanol prices were mostly unchanged to end last week; they continue unchanged this week with prices at 37.02 cents/liter (140.12 cents/gallon) through Tuesday’s trading.

FOB Houston ethanol prices finished last week down 2.0 percent; prices continue down through Tuesday’s trading (-1.7 percent from Friday’s close). FOB Houston ethanol prices are quoted at 35.619 cents/liter (134.831 cents/gallon). FOB Santos, Brazil ethanol prices ended last week down 2.1 percent; prices have continued down from Friday’s close and stand at 52.399 cents/liter (198.350 cents/gallon) through Tuesday’s trading.

The FOB Gulf-Santos, Brazil spread widened from last week’s close through Tuesday’s trading and is currently at -16.780 cents/liter (-63.519 cents/gallon).

MTBE prices were down significantly to end last week and continue down through early week trading (-1.8 percent). MTBE’s premium to FOB Houston ethanol stood at 18.529 cents/liter ($70.14 cents/gallons), narrowing from last week’s figure.

BTX component prices were down across the board to end last week and continue down through Tuesday’s trading, with Benzene prices down 1.6 percent and Toluene and Xylene prices down 3.1 percent and 2.8 percent, respectively. The estimated weighted average aromatic price is currently 63.11 cents/liter (238.89 cents/gallon), down again from Friday’s close. The BTX-Houston ethanol spread narrowed further this week, with the weighted average BTX price now 27.491 cents/liter (104.06 cents/gallon) higher than FOB Houston ethanol prices.

Gasoline and petroleum products are down in early week trading as supply and demand dynamics continue to influence liquid fuel markets. Gasoline prices (-3.8 percent) and both WTI futures (-3.9 percent) and Brent crude oil futures (-5.2 percent) are down from Friday’s close through Tuesday’s trading.

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