PDF attached
- The US weekly EIA ethanol data was viewed slightly negative for US corn futures.
- Weekly US ethanol production increased 7,000 barrels per day to 1.010 million barrels. Traders were looking for a 9,000 increase. Stocks were up 545,000 barrels to 25.320 million barrels. Stocks estimate was for a 143,000 increase.
- US ethanol production of 1.010 million barrels per day is about 2% below from about the same time a year ago.
- Over the past 4 weeks, production changes averaged up 3,000 and stocks up 226,000 barrels.
- Early September 2022 to date (26 weeks) US ethanol production is running 4.0% below the same period a year ago. At this time last year ethanol production was advancing 8about 10% above the Sep 1, 2021-Mar 4, 2021, period.
- Padd2 production was 964,000 barrels, up 6,000 from a week earlier. Padd1 was down 1,000 and Padd3 up 2,000.
- There were no ethanol imports reported this week.
- Ethanol stocks of 25.320 million barrels are up about 0.2% from a year ago and 0.2% above a previous 4-week average. The record for ethanol stocks was 27.689 million barrels set on 4/17/20, but today’s inventories are still considered high.
- Days of inventory of 24.5 compares to 24.4 a month ago and 24.3 during comparable period a year ago.
- Weekly ending stocks of total gasoline were down 1.134 million barrels to 238.1 million barrels. Implied gasoline demand was down 550,000 barrels to 8.562 million barrels.
- The net blender input of fuel ethanol was down 3,000 from the previous week at 870,000 bpd, above its previous 4-week average of 855,000 bpd.
- Net production of combined finished reformulated and conventional motor gasoline with ethanol was 8.610 million barrels, up 3,000 barrels from the previous week and represents 90.7 percent of total finished motor gasoline, below 92.7% blending rate previous week.
- For 2022-23, we are using 5.225 billion bushels, unchanged from previous, and compares to 5.250 billion by USDA and 5.326 billion for 2021-22.
| Terry Reilly Senior Commodity Analyst – Grain and Oilseeds |
| Futures International One Lincoln Center 18W140 Butterfield Rd. Suite 1450 Oakbrook terrace, Il. 60181 |
| Work: 312.604.1366 ICE IM: treilly1 Skype IM: fi.treilly |
| treilly@futures-int.com
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Weekly_EIA_Ethanol_Data-FI030823.pdf