US weekly ethanol production was up 7,000 barrels per day or 0.8% to 900,000 barrels and stocks were down a large 870,000 barrels or 4.1% to 20.164 million barrels. A Bloomberg poll looked for weekly US ethanol production to be up 15,000 and stocks to decrease 65,000 barrels. Cumulative crop year to date production is down 10 percent from the comparable period last season. The week ending June 26 stamps the ninth consecutive week of expansion following the April 24 low of 537,000 barrels. Stocks are down ten consecutive weeks to 20.164 since peaking at 27.689 million as of April 17, a 27 percent decrease. We are using 4.875 billion bushels for corn for ethanol usage, 25 million below USDA.
Senior Commodity Analyst – Grain and Oilseeds
Futures International │190 S LaSalle St., Suite 410│Chicago, IL 60603
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.