Ethanol Market and Pricing Data – October 14, 2020

Ethanol, Fuels and Co-Product Pricing

Market Outlook: U.S. ethanol prices ended last week 0.7 percent higher and are continuing that trend in early week trading, up 2.1 percent through Tuesday’s close. Midwest wholesale rack ethanol prices were higher to end last week and are up 0.9 percent through Tuesday’s market close to their last quote of 40.56 cents/liter (153.55 cents/gallon).

FOB Houston ethanol prices finished last week 0.8 percent higher and are up 1.8 percent through Tuesday’s trading from Friday’s close. FOB Houston ethanol prices are quoted at 40.76 cents/liter (154.28 cents/gallon). FOB Santos, Brazil anhydrous ethanol prices were higher last week; they are up in early week trading, rising 3.6 percent to 44.74 cents/liter (169.365 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 -3.98 cents/liter (-15.08 cents/gallon).

MTBE prices fell 0.3 percent last week and are extending those losses in early week trading, down 0.6 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 -5.96 cents/liter (-22.58 cents/gallon).

BTX component prices were mixed last week and are continuing that trend through Tuesday’s market close: Benzene is down 0.5 percent while Toluene is up 4.5 percent, and Xylene is up 3.3 percent. The estimated weighted average aromatic price is currently 42.95 cents/liter (162.57 cents/gallon), up from last Friday’s close. The BTX-Houston ethanol spread widened last week, and the weighted average BTX price is 2.19 cents/liter (8.29 cents/gallon) higher than the FOB Houston ethanol price.

Gasoline and petroleum products were higher last week but are reversing that trend in early week trading. RBOB futures are down 1.7 percent to start the week while 84 octane RBOB (Houston) and 87 octane CBOB (U.S. Gulf) gasoline prices are down 2.4 and 3 percent, respectively. WTI futures are 1 percent lower at $40.2/barrel while Brent futures are down 1.1 percent to $42.4/barrel, from Friday through Tuesday’s close.

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