PDF attached
US weekly ethanol dropped by 68,000 barrels per day to 1.039 million, lowest in a month, and steepest drop since 2/19/21. This was unexpected as the trade looked for a 10,000 barrel decrease. Midwest PADD2 production fell 69,000 barrels. We did hear there was some power issued for at least one plant located in Illinois, but for US production to be down 68,000 for week ending 11/5 is unusual. Ethanol stocks increased 157,000 barrels to 20.286 million and stocks are now highest since early September. Early September to date ethanol production is running 8.1% from the same period year ago. US gasoline stocks fell by 1.555 million barrels and are down for the fifth consecutive week, to 212.7 million barrels, lowest level since November 2017. US gasoline demand fell from the previous week by 245,000 barrels to 9.259 million, and looking back at the previous 4 weeks, gasoline demand is running only 0.6% below the comparable period two years ago.
Year to date
Terry Reilly
Senior Commodity Analyst – Grain and Oilseeds
Futures International
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Weekly_EIA_Ethanol_Data-FI111021.pdf