PDF attached

 

Weekly US ethanol production fell an unexpected 12,000 barrels per day (trade weas looking for up 13,000) to 914,000 barrels, lowest since late August.  PADD2 was down 330,000 barrels per day.  Stocks increased for the second consecutive week by 109,000 to 20.220 million barrels, near expectations.  Gasoline stocks increased a small amount to 221.8 million barrels.  Ethanol % blended into finished motor gasoline was 92.3%, down from 92.4% from the previous week.  Annualized corn use for ethanol production is under 5.1 billion bushels, below the rate during September 2020.  The poor start of the corn calendar year (Sep-Aug) rate of US ethanol production is negative for corn.  2021-22 September through December US domestic corn demand could be down from last year.  Recall last Friday’s pig report implies lower corn for feed demand for the summer quarter, and upcoming fall quarter. 

 

 

 

 

 

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

treilly@futures-int.com

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.