PDF attached


Weekly EIA US ethanol production was up 21,000 barrels per day to 1.004 million barrels, highest since 4/14, and stocks increased for the first time in 6 weeks by 291,000 barrels to 22.332 million.  For reference, a Bloomberg poll looked for weekly US ethanol production to be up 15,000 thousand barrels and stocks down 63,000 barrels. Sep 2022 to date ethanol production is running 3.2 percent below the same period last season. US gasoline stocks of 216.1 million barrels were down marginally from the previous week, and down five consecutive weeks. Implied US gasoline demand was 9.098 million barrels, down 339,000 barrels.  Total ethanol blended to finished motor gasoline was 9.125 million barrels, a 91.1 percent blend rate.


EIA’s Weekly Petroleum Status Report (WPSR) is now showing Fuel Ethanol and Total Motor Gasoline (sum of Finished Motor Gasoline and Motor Gasoline Blending Components) estimates separate from Other Oils exports estimates starting with data for the week ending May 26, 2023. Table 9, tab 8.  There were no imports and 54,000 barrels per day of exports.



US DoE Crude Oil Inventories (W/W) 26-May: +4.488M (est -1.500M; prev -12.456M)

– Distillate Inventories: +985K (est +1.000M; prev -561K)

– Cushing OK Crude Inventories: +1.628M (prev +1.762M)

– Gasoline Inventories: -207K (est -1.100M; prev -2.053M)

– Refinery Utilization: +1.40% (est +0.50%; prev -0.30%)




University of Illinois: Is the U.S. Renewable Fuel Standard in Danger of Going Over a RIN Cliff?

Gerveni, M., T. Hubbs and S. Irwin. “Is the U.S. Renewable Fuel Standard in Danger of Going Over a RIN Cliff?” farmdoc daily (13):99, Department of Agricultural and Consumer Economics, University of Illinois at Urbana-Champaign, May 31, 2023.




Terry Reilly 
Senior Commodity Analyst – Grain and Oilseeds
Futures International
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Work: 312.604.1366
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