Ethanol Market and Pricing Data – September 18, 2018

Ethanol, Fuels and Co-Product Pricing

Market Outlook: U.S. ethanol prices were down to end last week, and this week nearby CBOT ethanol futures are down 1.1 percent from Friday’s close. Midwest wholesale rack ethanol prices were down 1.3 percent to end last week and are mostly unchanged from Friday’s close at 37.35 cents/liter (141.37 cents/gallon).

FOB Houston ethanol prices finished last down 1.4 percent, and that trend continues through Tuesday’s trading with prices down 1 percent from Friday’s close. FOB Houston prices are quoted at 35.937 cents/liter (136.038 cents/gallon). FOB Santos, Brazil ethanol prices ended last week up fractionally; prices are up 1.7 percent at 49.172 cents/liter (186.135 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 -13.234 cents/liter (-50.098 cents/gallon).

MTBE prices were down fractionally to end last week and are mostly unchanged through early week trading. MTBE’s premium to FOB Houston ethanol stood at 27.642 cents/liter ($104.64 cents/gallons), widening from last week’s figure.

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 80.16 cents/liter (303.43 cents/gallon), up 2 percent from Friday’s close. The BTX-Houston ethanol spread widened again, with the weighted average BTX price now 44.221 cents/liter (167.40 cents/gallon) higher than FOB Houston ethanol prices.

Gasoline and petroleum products are up across the board in early week trading, continuing last week’s upward trend. WTI and Brent crude oil futures are 1 percent and 0.7 percent, respectively, through Tuesday’s trading despite a reported buildup in crude oil inventories.

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