PDF attached
Weekly US ethanol increased 21,000 barrels to 1.060 million barrels and stocks fell 439,000 barrels to 23.197 million barrels. A Bloomberg poll called for weekly US ethanol production to be up 4,000 barrels from the previous week and stocks up 142,000 barrels. September 2021 to date ethanol production rebounded 7.9 percent from the same period year earlier. Days of inventory were 22.3 days, up from 22.1 previous week and compares to 24.4 days month ago and 19.5 year ago. Gasoline stocks declined for the eleventh consecutive week to 217.47 million barrels, down 710,000 from the week ending June 3, and lowest since late November 2021. Gasoline supplied to market dropped 106,000 barrels to 9.093 million barrels and compares to around 9.3 million around this time year ago. US gasoline demand, on a 4-week rolling basis, steadily declined over the last ten weeks. Ethanol blended to gasoline ran at 89.7% for the week ending June 10, down from 91.2% previous week.
US DoE Crude Oil Inventories (W/W) 10-Jun: +1956K (est -2200K; prev -2025K)
– Distillate: +725K (est -500K; prev +2592K)
– Cushing: -826K (prev -1593K)
– Gasoline: -710K (est +500K; prev -812K)
– Refinery Utilization: -0.5% (est 0.3%; prev 1.6%)
Terry Reilly
Senior Commodity Analyst – Grain and Oilseeds
Futures International
One Lincoln Center
18 W 140 Butterfield Rd.
Oakbrook Terrace, Il. 60181
W: 312.604.1366
ICE IM: treilly1
Skype: fi.treilly
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weekly_EIA_ETH061522.pdf