From: Terry Reilly
Sent: Wednesday, July 11, 2018 10:00:27 AM (UTC-06:00) Central Time (US & Canada)
Subject: FI US Ethanol Snapshot 07/11/18
PDF attached
· The weekly US DOE report showed ethanol stocks increasing 1.9 percent to 22.393 million barrels, or 418,000 barrels from the previous week. Traders were looking for a slight decrease in stocks.
· US ethanol production fell by most since February 9th by 34,000 barrels to 1.033 million, lowest inventory level since May 18. Traders were looking for a slight decrease (2).
· The report was viewed as bearish corn futures, but larger fundamentals, namely widespread commodity selling amid China/US trade concerns, are already pressuring corn futures.
· September 2017-ealry July US ethanol production is running 2.6 percent above the same period a year ago.
· With corn prices on the move lower over the past month, the US corn crush spread hit its highest level since early September 2017.
Terry Reilly
Senior Commodity Analyst – Grain and Oilseeds
Futures International │190 S LaSalle St., Suite 410│Chicago, IL 60603
W: 312.604.1366
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Skype: fi.treilly
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Weekly_EIA_Ethanol_Data-FI071118.pdf