PDF attached
Weekly US ethanol production last week was off 26,000 barrels to 911,000 barrels (trade was looking down 17,000) and stocks were up 501,000 barrels to 24. (trade 48,000 increase) from the previous week. Ethanol production was lowest since September 25. Stocks are at a three-week high. Early September to date ethanol production is running 8.5 percent below the same period a year ago. Based on weekly ethanol production, implied corn use using September to date average weekly ethanol production suggests 5.162 billion bushels, but if ethanol production from now until the end of the year remained unchanged, implied use would stand at 5.067 billion bushels. However, several ethanol plants went offline earlier this week, or slowed, and we it is nearly impossible to predict when US ethanol production will return to a pre-pandemic level, so those figures can’t be taken seriously. USDA is using 4.950 billion. US gasoline stocks increased 672,000 barrels to 257.1 million. US gasoline demand was up from the previous week but overall running 5.7 percent below a year ago. US crude oil stocks fell to lowest since March.
Terry Reilly
Senior Commodity Analyst – Grain and Oilseeds
Futures International
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Weekly_EIA_Ethanol_Data-FI021821.pdf