PDF attached
US weekly ethanol production declined 11,000 barrels per day to 1.048 million, more than expected (trade looking for 7,000 decline) and stocks increased a very large 683,000 barrels to 21.359 million, largest level since mid-August 2021. Blender net input of ethanol during the holiday was only 782,000 barrels, lowest since mid-February 2021 (pandemic levels). Imports were zero and implied in-transit ethanol were 339,000 barrels, in line with previous weeks.
US DoE Crude Oil Inventories (W/W) 31-Dec: -2144K (est -3650K; prev -3576K)
– Distillate Inventories: +4418K (est -1000K; prev -1726K)
– Cushing OK Crude Inventories: +2577K (prev +1055K)
– Gasoline Inventories: +10128K (est 1750K; prev -1459K)
– Refinery Utilization: 0.10% (est 0.40%; prev 0.10%)
Terry Reilly
Senior Commodity Analyst – Grain and Oilseeds
Futures International
One Lincoln Center
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Skype: fi.treilly
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Weekly_EIA_Ethanol_Data-FI010522.pdf