From: Terry Reilly
Sent: Wednesday, August 21, 2019 10:04:12 AM (UTC-06:00) Central Time (US & Canada)
Subject: FI US Ethanol Snapshot 08/21/19
PDF attached
- The US weekly EIA ethanol data was viewed negative for US corn futures and positive US ethanol futures.
- Weekly US ethanol production fell 22,000 barrels from the previous week to 1.023 million barrels per day (bbl) and stocks decreased 516,000 barrels to 23.367 million.
- A Bloomberg survey called for EIA ethanol production to average 1.048 million barrels and stocks to average 23.799 million barrels.
- US ethanol production of 1.023 million barrels per day is about 4.7% below from about the same time a year ago and 0.8% below the previous 4-week average.
- Padd2 production was 945,000 barrels, down 24,000 from a week earlier. Padd1 was up 4,000.
- Early September 2018 to date US ethanol production is running 1.1% below the same period a year ago. At this time last year ethanol production was advancing 2.9% above the Sep 1, 2017-Aug 17, 2018 period.
- There were no ethanol imports reported this week.
- Ethanol stocks of 23.367 million barrels are up 0.5% from a year ago and 4.5% below the last previous 4-week average. The record for ethanol stocks was 24.281 million barrels set on 3/9/18.
- Days of inventory of 23.3 compares to 22.5 a month ago and 21.5 during comparable period a year ago.
- Weekly ending stocks of total gasoline were up 312,000 barrels to 234.1 million barrels.
- The net blender input of fuel ethanol was down 6,000 from the previous week at 961,000 bpd, above its 4-week average of 953,000 bpd.
- Net production of finished reformulated and conventional motor gasoline with ethanol, decreased 72,000 to 9.500 million barrels, or 93.1 percent of the net production of all finished motor gasoline, up from 91.9 percent for the previous week.
- Our 2018-19 crop-year corn for ethanol usage is 5.414 billion bushels, 11 million below USDA’s current estimate of 5.525 and compares to 5.605 billion for 2017-18.
Terry Reilly
Senior Commodity Analyst – Grain and Oilseeds
Futures International │190 S LaSalle St., Suite 410│Chicago, IL 60603
W: 312.604.1366
AIM: fi_treilly
ICE IM: treilly1
Skype: fi.treilly
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Weekly_EIA_Ethanol_Data-FI082119.pdf