PDF attached
US ethanol production declined a less than expected 1,000 barrels per day to 1.013 million barrels. Trade was looking for a 7,000-barrel decline. Stocks fell 84,000 barrels to 22.649 million, near trade expectations. Production is lowest since May 27. September 2020 through July 30 ethanol production is running 3.4% above the same period a year earlier. 2020-21 corn used for ethanol production is still expected to exceed USDA’s 2020-21 estimate of 5.050 billion bushels (4.852 used during 2019-20). Last week we projected 5.077 billion for 2020-21 and may adjust this slightly down. For 2021-22 USDA is at 5.200 billion. We are 50 million below USDA’s estimate for new-crop.
Weekly_EIA_Ethanol_Data-FI080421.pdf