From: Terry Reilly
Sent: Monday, December 31, 2018 11:43:58 AM (UTC-06:00) Central Time (US & Canada)
Subject: Monthly EIA Ethanol and Biodiesel Update 12/31/18
Monthly EIA Ethanol Update
· October US monthly ethanol production of 32.380 million barrels were above our expectations, up from 30.667 million in September and 32.212 million in October 2017.
- Our 2018-19 crop-year corn for ethanol usage is 5.700 billion bushels, 100 million above USDA’s current estimate of 5.600 (recently lowered 50 million bushels in the December 11 update) and compares to 5.605 billion for 2017-18.
Monthly EIA Biodiesel Update
· U.S. production of biodiesel was 170 million gallons in October 2018, 7 million gallons higher than production in September 2018.
· Biodiesel production from the Midwest region (Petroleum Administration for Defense District 2) accounted for 65 percent of the United States total.
· There were a total of 1,292 million pounds of feedstocks used to produce biodiesel in October 2018, up from 1,242 million pounds in September and 1,126 million in October 2017.
· Soybean oil remained the largest biodiesel feedstock during October 2018 with 699 million pounds consumed, up from 689 million pounds from September, and well up from 577 million pounds in October 2017.
· Soybean oil accounted for 54.1% of total feedstock, compared to 55.5% in September and 51.2% in October 2017.
· We are maintaining our 2018-19 soybean oil for biodiesel use at 7.700 billion pounds, 100 million pounds below USDA and compares to 7.134 billion a year earlier.
Senior Commodity Analyst – Grain and Oilseeds
Futures International │190 S LaSalle St., Suite 410│Chicago, IL 60603
ICE IM: treilly1
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