US ethanol production dips

In Washington, the EPA reports that ethanol production averaged 863,000 barrels per day— or 36.25 million gallons daily. That is down 12,000 b/d from the week before. The four-week average for ethanol production stood at 860,000 b/d for an annualized rate of 13.18 billion gallons. Stocks of ethanol stood at 16.0 million barrels. That is a 0.8% decrease from last week and the fifth consecutive weekly decline. Imports of ethanol were 27,000 b/d, marking the first time in the last five weeks that the United States imported ethanol. Gasoline demand for the week averaged 376.2 million gallons daily — the highest since August 2012. On the co-products side, ethanol producers were using 13.085 million bushels of corn to produce ethanol and 96,313 metric tons of livestock feed, 85,864 metric tons of which were distillers grains. The rest is comprised of corn gluten feed and corn gluten meal. Additionally, ethanol producers were providing 4.49 million pounds of corn oil daily.