From: Terry Reilly
Sent: Wednesday, March 18, 2020 11:04:00 AM (UTC-06:00) Central Time (US & Canada)
Subject: FI US Ethanol Snapshot 03/18/20
Weekly US ethanol production declined 9,000 barrels per day to 1.035 million barrels. Traders were looking for a 2,000 barrel decline. Weekly ethanol stocks were up 264,000 barrels to 24.598 million barrels. Traders were looking for an 18,000 barrel increase. We project US weekly ethanol production could drop to around 950,000 barrels by early or mid-April. That would put weekly corn for ethanol use below 100 million bushels per week, compared to about 109 million this week, assuming a 2.8 yield. Corn crop year to date ethanol production is running 0.4 percent above the same period a year ago.
We may lower our corn for ethanol use by as much as 75 million bushels by the end of this week.
Senior Commodity Analyst – Grain and Oilseeds
Futures International │190 S LaSalle St., Suite 410│Chicago, IL 60603
ICE IM: treilly1
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