PDF attached


Weekly ethanol production fell for the second consecutive week to 1.028 million barrels, down 13,000 barrels (PADD2 down 13k), and stocks shot up 1.384 million barrels to 22.518 million, highest since mid- February 2021. Traders were looking for a 1,000 barrel increase in production and stocks to be up 243,000 barrels.  Note nearly every week in history we see ethanol stocks shoot up more than 1 million barrels, they tend to correct (draw) the following week or two.  We don’t read too much into this report today.  Ethanol in-transit during the previous weeks when production was running much higher than 1.028 million was likely finally accounted in stocks.  US gasoline demand improved from 9.283 million barrels to 9.295 million from the previous week and is 8.7% higher than this time last year and 3.9% lower than 2019.  The ethanol blend rate was 91.7% for finished motor gasoline, down from 92.2% previous week. 


US DoE Crude Oil Inventories (W/W) 16-Jul: 2107K (est -4500K; prev -7896K)

– Distillate Inventories (W/W): -1349K (est 650K; prev 3657K)

– Cushing Crude Inventories (W/W): -1347K (prev -1589K)

– Gasoline Inventories (W/W): -121K (est -1050K; prev 1038K)

– Refinery Utilization (W/W): -0.4% (est 0.5%; prev -0.4%)






Terry Reilly

Senior Commodity Analyst – Grain and Oilseeds

Futures International
One Lincoln Center
18 W 140 Butterfield Rd.

Oakbrook Terrace, Il. 60181

W: 312.604.1366


ICE IM:  treilly1

Skype: fi.treilly


Description: Description: Description: Description: FImail


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.