PDF attached
· The US weekly EIA ethanol data was viewed positive for US corn futures.
· US weekly ethanol production increased 32,000 barrels per day to 1.036 million barrels per day, largest volume since December 9, 2022. US ethanol stocks increased a large 616,000 barrels to 22.948 million barrels.
· For comparison, a Bloomberg poll looked for weekly US ethanol production to be up 13,000 thousand barrels from the previous week and stocks up 72,000 barrels.
· US ethanol production of 1.036 million barrels per day is about 0.3% below from about the same time a year ago.
· Over the past 4 weeks, production changes averaged up 18,000 and stocks down 86,000 barrels.
· Early September 2022 to date (40 weeks) US ethanol production is running 3.1% below the same period a year ago.
· There were no ethanol imports reported this week. Exports were 97,000 barrels, up from 54,000 barrels from the previous.
· Ethanol stocks of 22.948 million barrels are down about 2.9% from a year ago and 1.0% below a previous 4-week average. The record for ethanol stocks was 27.689 million barrels set on 4/17/20, but today’s inventories are still considered at a good level.
· Days of inventory of 21.6 compares to 24.2 a month ago and 22.1 during comparable period a year ago.
· Weekly ending stocks of total gasoline were up 2.745 million barrels to 218.815 million barrels (was down 5 consecutive weeks). Implied gasoline demand was up 120,000 barrels to 9.218 million barrels.
· The net blender input of fuel ethanol was down 39,000 from the previous week to 887,000 bpd, below its previous 4-week average of 915,000 bpd.
· Net production of combined finished reformulated and conventional motor gasoline with ethanol was 8.720 million barrels, down 405,000 barrels from the previous week and represents 91.0 percent of total finished motor gasoline, below 91.1% previous week.
· For 2022-23, we are using 5.215 billion bushels, unchanged from previous, and compares to 5.250 billion by USDA and 5.326 billion for 2021-22.
| Terry Reilly Senior Commodity Analyst – Grain and Oilseeds |
| Futures International One Lincoln Center 18W140 Butterfield Rd. Suite 1450 Oakbrook terrace, Il. 60181 |
| Work: 312.604.1366 ICE IM: treilly1 Skype IM: fi.treilly |
| treilly@futures-int.com
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Weekly_EIA_Ethanol_Data-FI060723.pdf