PDF attached
Weekly US ethanol production declined 7,000 barrels per day (trade estimate down 4,000) to 1.051 million and stocks increased a large 744,000 barrels (trade looked for up 52,000) to 23.490 million barrels. PADD 2 stocks were up 567,000 barrels from the previous week. Days of inventory stand at 21.8 days, down from 22.3 previous week and compares to 22.1 month ago and 20.2 year ago. September to date corn crop year production is running 7.2 percent above same period year ago. Gasoline demand increased 491,000 barrels from the previous week to 9.413 million barrels, largest since October 29th, 2021. US gasoline stocks slipped 2.5 million barrels to 219 million barrels. Total ethanol blended into finished motor gasoline fell to 8.878 million barrels from 8.907 million previous week, a blend rate of 89.7 percent, down from 90.2 percent week earlier. US corn usage is on track to fall short of USDA’s 2021-22 crop year projection, by at least 25 million bushels.
US DoE Crude Oil Inventories (W/W) 01-Jul: +8235K (est -1550K; prev -2762K)
– Distillate Inventories: -1266K (est +1000K; prev +2559K)
– Cushing OK Crude Inventories: +69K (prev -782K)
– Gasoline Inventories: -2497K (est -1050K; prev 2645K)
– Refinery Utilization: -0.5% (est 0.1%; prev 0.00%)
Terry Reilly
Senior Commodity Analyst – Grain and Oilseeds
Futures International
One Lincoln Center
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Weekly_EIA_Ethanol_Data-FI070722.pdf