Hoosier Ag Today by: Gary Truitt
According to EIA data, ethanol production averaged 962,000 barrels per day (b/d)—or 40.40 million gallons daily. That is up 39,000 b/d from the week before and a five-week high. The four-week average for ethanol production stood at 938,000 b/d for an annualized rate of 14.38 billion gallons. Stocks of ethanol plunged to 21.3 million barrels. That is a 4.3% decrease from last week and an 18-week low. Imports of ethanol were non-existent for the 21st straight week.
Gasoline demand for the week averaged 405.6 million gallons (9.658 million barrels) daily. At 148.1 billion gallons annualized, it was the highest rate of gasoline demand since last August and 15th highest in 1,321 weeks of EIA recordkeeping. Refiner/blender input of ethanol averaged 890,000 b/d Expressed as a percentage of daily gasoline demand, daily ethanol production was 9.96%, the fifth week in a row under 10%.
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