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Ethanol Production Hits 5 Week High

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According to EIA data, ethanol production averaged 953,000 barrels per day (b/d)—or 40.03 million gallons daily. That is up 6,000 b/d from the week before and a five-week high. The four-week average for ethanol production stood at 944,000 b/d for an annualized rate of 14.47 billion gallons. Stocks of ethanol stood at 21.3 million barrels. That is a 2.4% increase from last week, and the first stocks increase in four weeks. Imports of ethanol were zero b/d for the 12th straight week.

 

Gasoline demand for the week averaged 362.0 million gallons daily, down 7% from the previous week’s year-to-date high. Refiner/blender input of ethanol averaged 866,000 b/d, the highest rate of the year and best in 13 weeks.Expressed as a percentage of daily gasoline demand, daily ethanol production was 11.06%.

On the co-products side, ethanol producers were using 14.450 million bushels of corn to produce ethanol and 106,358 metric tons of livestock feed, 94,819 metric tons of which were distillers grains. The rest is comprised of corn gluten feed and corn gluten meal. Additionally, ethanol producers were providing 5.61 million pounds of corn distillers oil daily.