PDF attached
The US deep freeze had a very large impact on US weekly ethanol production and time will tell if the industry can recover back above 900,000 barrels per day by the end of this month. This was the largest weekly drop for any week since weekly data began in 2010. Our bias is for US corn for ethanol use to end up below USDA’s 4.950 billion bushel outlook if ethanol blend rates fail to recover by the summer driving months to its respected linear three year trend. We are currently 50 million bushels above USDA’s estimate but after today’s figure, we will lower our projection.
Terry Reilly
Senior Commodity Analyst – Grain and Oilseeds
Futures International
One Lincoln Center
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Weekly_EIA_Ethanol_Data-FI.pdf