Ethanol Market and Pricing Data – November 6, 2018

Ethanol, Fuels and Co-Product Pricing

Market Outlook: U.S. ethanol prices were up 1.6 percent to end last week but have dropped through Tuesday’s trading with nearby CBOT ethanol futures down 0.8 percent from Friday’s close. Midwest wholesale rack ethanol prices were up slightly to end last week; they are up this week with prices at 37.37 cents/liter (141.46 cents/gallon) through Tuesday’s trading (+0.9 percent from Friday’s close).

FOB Houston ethanol prices finished last week up 0.7 percent, and prices continue up through Tuesday’s trading (+2.4 percent from Friday’s close). FOB Houston ethanol prices are quoted at 37.455 cents/liter (141.781 cents/gallon). FOB Santos, Brazil ethanol prices ended last week up 1.0 percent; however, prices are down from Friday’s close and stand at 53.887 cents/liter (203.985 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 -16.433 cents/liter (-62.204 cents/gallon).

MTBE prices were down slightly percent to end last week and continue down through early week trading (-0.5 percent). MTBE’s premium to FOB Houston ethanol stood at 23.079 cents/liter ($87.36 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 5.6 percent and Toluene and Xylene prices down 3.4 percent and 1 percent, respectively. The estimated weighted average aromatic price is currently 70.55 cents/liter (267.06 cents/gallon), down from Friday’s close. The BTX-Houston ethanol spread narrowed again this week, with the weighted average BTX price now 33.095 cents/liter (125.28 cents/gallon) higher than FOB Houston ethanol prices.

Gasoline and petroleum products are mostly down in early week trading as larger macroeconomic trends continue to influence liquid fuel markets. Gasoline prices (-0.7 percent) and WTI futures (-0.9 percent) are down and Brent crude oil futures are unchanged from Friday’s close through Tuesday’s trading.

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