PDF attached
US ethanol production for the week ending December 9 decreased 16,000 barrels (BB estimate was calling for down 16k) to 1.061 million barrels per day and stocks increased a large 1.152 million barrels (Est. +32k) to 24.409 million. Production over the past four weeks averaged up 13,000 barrels and stocks average up 778,000 barrels. Crop-year to date (Sep – Dec 12) ethanol production is running 4.1% below same period year ago and 1.7% below pre-pandemic level in 2019. US gasoline stocks increased 4.5 million barrels to 223.6 million and are up for the fifth consecutive week. Implied US gasoline demand fell 103,000 barrels to 8.255 million, still well below this time year ago and below the previous 4-week average between mid-November through early December. Finished motor gasoline that contained ethanol was running at a 91.1 percent blend rate, up from 90.2 percent previous week. There were no ethanol imports for the week ending December 12.
EIA: US Crude Stocks See Biggest Jump Since March 2021
US DoE Crude Oil Inventories (W/W) 09-Dec: +10.231M (est -3.500M; prev -5.186M)
– Distillate: +1.364M (est +2.500M; prev +6.159M)
– Cushing: +426K (prev -373K)
– Gasoline: +4.496M (est +2.500M; prev +5.319M)
– Refinery Utilization: -3.3% (est 0.0%; prev +0.3%)
Terry Reilly
Senior Commodity Analyst – Grain and Oilseeds
Futures International
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Weekly_EIA_Ethanol_Data-FI121422.pdf