PDF attached
Viewed bearish for corn futures. Weekly EIA US ethanol production dropped a large 42,000 barrels to 934,000 barrels, lowest level since October 16 and off 4 percent from the previous month. Production was down more than 4 times trade expectations. US ethanol stocks increased for the ninth consecutive week, by 335,000 to 23.504 million barrels, highest level since May 15, 2020. Stocks are nearly up 11.7 percent from this time last month.
Terry Reilly
Senior Commodity Analyst – Grain and Oilseeds
Futures International
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Weekly_EIA_Ethanol_Data-FI123020.pdf