US ethanol production, stocks drop as gasoline consumption jumps
According to EIA data as analyzed by the Renewable Fuels Association, ethanol production averaged 968,000 barrels per day (b/d)—or 40.66 million gallons daily. That is down 26,000 b/d from last week’s all-time high. The four-week average for ethanol production stood at 983,000 b/d for an annualized rate of 15.07 billion gallons.
Stocks of ethanol stood at 19.5 million barrels. That is a 1.6% decrease from last week and the lowest since the first week of the year. Imports of ethanol were non-existent for the 25th time in 26 weeks. Gasoline demand for the week averaged 408.7 million gallons daily, the second-highest rate of the year. Over the past four weeks, gasoline consumption has averaged 146.3 billion gallons on an annualized basis. Refiner/blender input of ethanol averaged 908,000 b/d, also the second-highest rate of the year.
Expressed as a percentage of daily gasoline demand, daily ethanol production was 9.95%, a seven-week low. On the co-products side, ethanol producers were using 14.677 million bushels of corn to produce ethanol and 108,032 metric tons of livestock feed, 96,311 metric tons of which were distillers grains. The rest is comprised of corn gluten feed and corn gluten meal. Additionally, ethanol producers were providing 5.69 million pounds of corn distillers oil daily.
Category: Fuels
