PDF attached
US ethanol production was up a large 84,000 barrels to 1.016 million, largest for the week since early August. Traders were looking for a 30,000-barrel increase. US ethanol stocks decreased 19,000 barrels to 21.844 million. Traders were looking for an 85,000-barrel increase. The increase in production is the third largest in our weekly history. For the week ending 3/5/21, production climbed 89,000 barrels and 2/26/21 by 191,000 barrels. The production is supportive for corn, but production is still lagging last season. Crop year to date (early Sep through Oct 14) ethanol production is running 5.6% below same period year ago. US gasoline stocks fell 114,000 barrels to 209.4 million and gasoline demand increased 402,000 barrels to 8.678 million.
US DoE Crude Oil Inventories (W/W) 14-Oct: -1.725M (est +2.500M; prev +9.879M)
– Distillate: +124K (est -2.000M; prev -4.853M)
– Cushing: +583K (prev -309K)
– Gasoline: -114K (est -2.000M; prev +2.022M)
– Refinery Utilization: -0.4% (est -0.4%; prev -1.4%)
Terry Reilly
Senior Commodity Analyst – Grain and Oilseeds
Futures International
One Lincoln Center
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Oakbrook Terrace, Il. 60181
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ICE IM: treilly1
Skype: fi.treilly
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Weekly_EIA_Ethanol_Data-FI101922.pdf