Weekly US ethanol production as of June 11 dropped a much more than expected 42,000 barrels per day from the previous week (a Bloomberg poll looked for only 4,000 barrels) to 1.025 million and stocks increased 642,000 barrels (poll was +189,000 barrels) to 20.602 million, highest since April 2. Gasoline product supplied was up 880,000 barrels, a large amount, to 9.360 million, highest in a month and a good indicator demand was good for that week. The ethanol blend rate was 91%, up from 90.8% previous week. We see no reason for USDA to make an adjustment to its 2020-21 US corn ethanol demand next month.
Senior Commodity Analyst – Grain and Oilseeds
One Lincoln Center
18 W 140 Butterfield Rd.
Oakbrook Terrace, Il. 60181
ICE IM: treilly1
Trading of futures, options, swaps and other derivatives is risky and is not suitable for all persons. All of these investment products are leveraged, and you can lose more than your initial deposit. Each investment product is offered only to and from jurisdictions where solicitation and sale are lawful, and in accordance with applicable laws and regulations in such jurisdiction. The information provided here should not be relied upon as a substitute for independent research before making your investment decisions. Futures International, LLC is merely providing this information for your general information and the information does not take into account any particular individual’s investment objectives, financial situation, or needs. All investors should obtain advice based on their unique situation before making any investment decision. The contents of this communication and any attachments are for informational purposes only and under no circumstances should they be construed as an offer to buy or sell, or a solicitation to buy or sell any future, option, swap or other derivative. The sources for the information and any opinions in this communication are believed to be reliable, but Futures International, LLC does not warrant or guarantee the accuracy of such information or opinions. Futures International, LLC and its principals and employees may take positions different from any positions described in this communication. Past results are not necessarily indicative of future results.