Ethanol, Fuels and Co-Product Pricing
Market Outlook: U.S. ethanol prices were down 3.7 percent to end last week, but through Tuesday’s trading nearby CBOT ethanol futures are up 0.7 percent from last Friday’s close. Midwest wholesale rack ethanol prices were down fractionally to end last week; they are mostly unchanged this week with prices at 36.93 cents/liter (139.78 cents/gallon) through Tuesday’s trading (-0.1 percent from Friday’s close).
FOB Houston ethanol prices finished last week down 1.3 percent, and prices continue down slightly through Tuesday’s trading (-0.8 percent from Friday’s close). FOB Houston ethanol prices are quoted at 36.309 cents/liter (137.444 cents/gallon). FOB Santos, Brazil ethanol prices ended last week up 4.9 percent; prices have continued up from Friday’s close and stand at 54.047 cents/liter (204.59 cents/gallon) through Tuesday’s trading.
The FOB Gulf-Santos, Brazil spread is currently at -17.738 cents/liter (-67.146 cents/gallon).
MTBE prices were down to end last week and continue down through early week trading (-0.7 percent). MTBE’s premium to FOB Houston ethanol stands at 24.91 cents/liter (94.29 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 0.8 percent and Toluene and Xylene prices down 0.2 percent and 2.2 percent, respectively. The estimated weighted average aromatic price is currently 76.97 cents/liter (291.36 cents/gallon), down slightly from Friday’s close. The BTX-Houston ethanol spread narrowed, with the weighted average BTX price now 40.661 cents/liter (153.92 cents/gallon) higher than FOB Houston ethanol prices.
Gasoline and petroleum products are down across the board in early week trading.
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