Ethanol, Fuels and Co-Product Pricing
Market Outlook: U.S. ethanol prices were down to end last week. This week, nearby CBOT ethanol futures are up mostly unchanged from Friday’s close as the market remains quiet ahead of USDA reports. Midwest wholesale rack ethanol prices were mostly unchanged to end last week and are down fractionally from Friday’s close at 37.94 cents/liter (143.60 cents/gallon).
FOB Houston ethanol prices finished last up 1.6 percent but are down 1 percent through Tuesday’s trading. FOB Houston prices are quoted at 36.474 cents/liter (138.069 cents/gallon). FOB Santos, Brazil ethanol prices ended last week up 2.7 percent and are up slightly at 48.489 cents/liter (183.550 cents/gallon) through Tuesday’s trading.
The FOB Gulf-Santos, Brazil spread widened significantly from last week’s close through Tuesday’s trading and is currently at -12.015 cents/liter (-45.481 cents/gallon).
MTBE prices were mostly unchanged to end last week but are down 1.3 percent through early week trading. MTBE’s premium to FOB Houston ethanol stood at 26.937 cents/liter ($101.97 cents/gallons).
BTX component prices were mixed to end last week and continue mixed through Tuesday’s trading, with Benzene prices down and Toluene and Xylene prices up. The estimated weighted average aromatic price is currently 77.54 cents/liter (293.52 cents/gallon), up over 3 percent from Friday’s close. The BTX-Houston ethanol spread widened substantially, with the weighted average BTX price now 41.066 cents/liter (155.45 cents/gallon) higher than FOB Houston ethanol prices.
Gasoline and petroleum products are up across the board in early week trading after closing down to end last week. WTI and Brent crude oil futures are 3.1 percent and 2.9 percent, respectively, through Tuesday’s trading.
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