PDF attached
The US weekly EIA ethanol data was viewed neutral for US corn futures and neutral for the US ethanol cash market. Weekly US ethanol production increased 43,000 barrels from the previous week to 932 thousand barrels per day (bbl), still low for this time of year, but has improved over the past two weeks. Ethanol stocks increased 178,000 barrels to 31.863 million. comparison, a Bloomberg poll looked for weekly US ethanol production to be up 35,000 thousand and stocks up 16,000 barrels to 21.701 million. US ethanol production of 932 thousand barrels per day is about 9.7% below from about the same time a year ago. For Over the past 4 weeks, production changes averaged down 8,000 and stock changes down 245,000 barrels. Early September 2022 to date (5 weeks) US ethanol production is running 5.2% below the same period a year ago and 7.2% below pre pandemic levels (September 2019). Padd2 production was 881,000 barrels, up 41,000 from a week earlier. Padd1 was up 7,000 and Padd3 down 7,000. There were no ethanol imports reported this week. Weekly ending stocks of total gasoline were up 2.02 million barrels to 209.5 million barrels and demand fell 1.2 million to 8.276 million. Average gasoline demand for the past 4 weeks is running 4.1% below year ago level and 5.7 percent below pre pandemic levels for the comparable period in 2019.
Terry Reilly
Senior Commodity Analyst – Grain and Oilseeds
Futures International
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Weekly_EIA_Ethanol_Data-FI101322.pdf