Brazilian ethanol stocks hit record high for mid-June

In Brazil, Platts reports ethanol stocks were 5.27 billion liters by mid-June, the highest seen for the period since 2010 and similar to what is usually seen in mid-July. Stocks were up nearly 63% compared to mid-June 2019 due to reduced demand brought about by COVID-19 quarantining that has kept drivers off the road. Stocks at the end of April were more than 127% higher than the year prior while mid-March inventories were just 7% higher on year. More than 65% of the stocks in mid-June was hydrous ethanol accounting for 3.44 billion liters.