Ethanol Market and Pricing Data – September 25, 2018

Ethanol, Fuels and Co-Product Pricing

Market Outlook: U.S. ethanol prices were down to end last week, but that trend has reversed this week with nearby CBOT ethanol futures up 1.1 percent from Friday’s close. Midwest wholesale rack ethanol prices were down 1.3 percent to end last week; the trend continues this week with prices at 36.68 cents/liter (138.86 cents/gallon) through Tuesday’s trading (down 0.9 percent from Friday’s close).

FOB Houston ethanol prices finished last week down 1.5 percent, though prices have steadied and are mostly unchanged through Tuesday’s trading. FOB Houston prices are quoted at 35.729 cents/liter (135.250 cents/gallon). FOB Santos, Brazil ethanol prices ended last week up 2 percent; prices are up nearly 1 percent from Friday’s close at 49.758 cents/liter (188.355 cents/gallon) through Tuesday’s trading.

The FOB Gulf-Santos, Brazil spread widened again from last week’s close and is at -14.029 cents/liter (-53.105 cents/gallon) through Tuesday’s trading.

MTBE prices were down 1 percent to end last week and are mostly unchanged through early week trading. MTBE’s premium to FOB Houston ethanol stood at 27.447 cents/liter ($103.90 cents/gallons), narrowing slightly from last week’s figure.

BTX component prices were mixed to end last week and are mostly unchanged through Tuesday’s trading, with Benzene prices up fractionally and Toluene and Xylene prices down fractionally. The estimated weighted average aromatic price is currently 80.26 cents/liter (303.83 cents/gallon), essentially unchanged from Friday’s close. The BTX-Houston ethanol spread widened again, with the weighted average BTX price now 44.535 cents/liter (168.58 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 up (from Friday’s close) 1.8 percent and 4.4 percent, respectively, through Tuesday’s trading amid supply concerns.

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