PDF attached
EIA reported US ethanol production decreased 4,000 barrels per day last week to 983,000 barrels. Stocks fell a large 1.150 million barrels to 22.041 million barrels. For comparison, a Bloomberg poll looked for production to be up 10,000 barrels and stocks to be down 213,000 barrels. Ethanol stocks are down five consecutive weeks, from 25.293 million as of 4/14 to 22.041 million as of 5/19. Crop year (Sep-Aug) to date ethanol production is running 3.1 percent below the same period year earlier. US gasoline stocks of 216.3 million barrels are down 2.05 million from the previous week and implied gasoline demand increased 529,000 barrels to 9.437 million.
US DoE Crude Oil Inventories (W/W) 19-May: -12456K (exp 2000K; prev 5040K)
Distillate: -561K (exp 500K; prev 80K)
Cushing OK Crude: +1762K (prev +1461K)
Gasoline: -2053K (exp -1600; prev -1381K)
Refinery Utilization: -0.30% (est 0.60%; prev 1.00%)
| Terry Reilly Senior Commodity Analyst – Grain and Oilseeds |
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Weekly_EIA_Ethanol_Data-FI052423.pdf