US weekly ethanol production increased 14 million barrels per day to 914,000 barrels, up 10 consecutive weeks, highest level since March 27. A Bloomberg poll looked for weekly US ethanol production to be up 18,000. Ethanol stocks increased 456,000 barrels to 20.620 million. This snapped a 10 consecutive week decline. A poll looked for a 148,000-barrel increase. Days of inventory were 22.1, down from 26.9 a month ago and compare to 21.8 year ago. Year to date production is down 10.2 percent from the same period a year ago. At 914,000 barrels, implied corn use is finally back over 5.0 billion bushels.
Senior Commodity Analyst – Grain and Oilseeds
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