Ethanol Market and Pricing Data – September 28, 2022

Ethanol, Fuels and Co-Product Pricing

Market Outlook: U.S. ethanol prices ended last week 4.1 percent lower and continued that trend in early week trading to  fall 0.9 percent through Tuesday’s close. Midwest wholesale rack ethanol prices were lower to end last week and were down 2.2 percent through Tuesday’s market close to their last quote of 69.09 cents/liter (261.55 cents/gallon).

FOB Houston ethanol prices finished last week 5.8 percent lower and are down 3 percent through Tuesday’s trading from Friday’s close. FOB Houston ethanol prices are quoted at 63.44 cents/liter (240.16 cents/gallon). FOB Santos, Brazil anhydrous ethanol prices were lower last week; they are down in early week trading, falling 2.7 percent to 59.63 cents/liter (225.725 cents/gallon) through Tuesday’s trading.

The FOB Gulf-Santos, Brazil ethanol spread has narrowed from last week’s close through Tuesday’s trading and is currently at 3.81 cents/liter (14.44 cents/gallon).

MTBE prices fell 2.5 percent last week and continued that trend in early week trading, falling 1 percent from Friday’s close through Tuesday’s trading. MTBE’s premium to FOB Houston ethanol has increased from last week’s report and stands at 10.49 cents/liter (39.7 cents/gallon).

BTX component prices were mixed last week but showed strength through Tuesday’s market close: Benzene was up 1.5 percent while Toluene was up 6.1 percent, and Xylene was up 4.6 percent. The estimated weighted average aromatic price is currently 95.31 cents/liter (360.8 cents/gallon), up from last Friday’s close. The BTX-Houston ethanol spread widened last week, and the weighted average BTX price is 31.87 cents/liter (120.64 cents/gallon) higher than the FOB Houston ethanol price.

Gasoline and petroleum products were lower last week but rebounded in early week trade. RBOB futures are up 5.8 percent to start the week while 84 octane RBOB (Houston) and 87 octane CBOB (U.S. Gulf) gasoline prices are up 4.6 and up 4.5 percent, respectively. WTI futures are 1.2 percent higher at $79.7/barrel while Brent futures are up 1.1 percent to $85.96/barrel, from Friday through Tuesday’s close.

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