Hoosier Ag Today by: Gary Truitt
According to EIA data, ethanol production averaged 1.008 million barrels per day (b/d)—or 42.34 million gallons daily. That is up 33,000 b/d from the week before, a new all-time high, and the first time in history that weekly production has crested the 1 million b/d mark. The four-week average for ethanol production stood at 984,000 b/d—the highest average since the week ended 6/19/2015—for an annualized rate of 15.08 billion gallons. Stocks of ethanol stood at 19.6 million barrels. That is a 2.0% increase from last week and a 17-week high.
Imports of ethanol were zero b/d for the second week in a row. Gasoline demand for the week averaged 374.7 million gallons (8.921 million barrels) daily, the lowest since May. Refiner/blender input of ethanol averaged 885,000 b/d.
Expressed as a percentage of daily gasoline demand, daily ethanol production was 11.30%, the highest since the first week of February.
Powered by WPeMatico
