In Washington, according to EIA data, ethanol production averaged 881,000 barrels per day (b/d) — or 37.00 million gallons daily. That is up 18,000 b/d from the week before. The four-week average for ethanol production stood at 875,000 b/d for an annualized rate of 13.41 billion gallons. Stocks of ethanol stood at 15.7 million barrels. That is a 1.8% increase from last week. Imports of ethanol were 25,000 b/d, up from last week.
Gasoline demand for the week averaged 390.6 million gallons daily, the highest since August 2012. Notably, net refiner/blender input of ethanol reached a record 896,000 b/d, proving that U.S. refiners and blenders have the capability to consume at least 13.74 billion gallons of ethanol annually.
Expressed as a percentage of daily gasoline demand, daily ethanol production was 9.47%. On the co-products side, ethanol producers were using 13.358 million bushels of corn to produce ethanol and 98,322 metric tons of livestock feed, 87,655 metric tons of which were distillers grains. The rest is comprised of corn gluten feed and corn gluten meal. Additionally, ethanol producers were providing 4.59 million pounds of corn oil daily.
More background on the story from the Digest
Category: Producer News