Ethanol Market and Pricing Data – October 30, 2018

Ethanol, Fuels and Co-Product Pricing

Market Outlook: U.S. ethanol prices were up 2.4 percent to end last week but have dropped through Tuesday’s trading with nearby CBOT ethanol futures down 2.9 percent from Friday’s close. Midwest wholesale rack ethanol prices were down fractionally to end last week; they are up this week with prices at 36.97 cents/liter (139.94 cents/gallon) through Tuesday’s trading (+0.5 percent from Friday’s close). The past few weeks have seen ethanol prices move modestly within a narrow range, and this week continues that pattern.

FOB Houston ethanol prices finished last week down 0.7 percent, but prices are up through Tuesday’s trading (+0.5 percent from Friday’s close). FOB Houston ethanol prices are quoted at 36.530 cents/liter (138.281 cents/gallon). FOB Santos, Brazil ethanol prices ended last week up 2.9 percent; prices are up from Friday’s close and stand at 55.106 cents/liter (208.600 cents/gallon) through Tuesday’s trading.

The FOB Gulf-Santos, Brazil spread widened again from last week’s close through Tuesday’s trading and is currently at -18.576 cents/liter (-70.319 cents/gallon).

MTBE prices were down 0.9 percent to end last week and continue down through early week trading (-0.5 percent). MTBE’s premium to FOB Houston ethanol stood at 24.263 cents/liter ($91.84 cents/gallons), narrowing from last week’s figure.

BTX component prices were down to end last week and continue down through Tuesday’s trading, with Benzene prices down 2.9 percent and Toluene and Xylene prices down 2.4 percent and 4.7 percent, respectively. The estimated weighted average aromatic price is currently 72.91 cents/liter (275.99 cents/gallon), down from Friday’s close. The BTX-Houston ethanol spread narrowed accordingly, with the weighted average BTX price now 36.379 cents/liter (137.71 cents/gallon) higher than FOB Houston ethanol prices.

Gasoline and petroleum products are down across the board in early week trading. Gasoline prices (-0.7 percent), WTI futures (-1.8 percent) and Brent crude oil futures (-1.7 percent) are all down from Friday’s close through Tuesday’s trading.

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