According to EIA data, ethanol production averaged 857,000 barrels per day, or 35.99 million gallons daily. That is down 26,000 b/d from the week before and is the lowest weekly output figure of the year. The 4-week average for ethanol production stood at 890,000 b/d for an annualized rate of 13.64 billion gallons.
Stocks of ethanol stood at 20.3 million barrels, the lowest since January. Gasoline demand for the week averaged 378.0 million gallons daily, the second-highest level of the year.
Expressed as a percentage of daily gasoline demand, daily ethanol production was 9.52%, lowest of the year and the second consecutive week the percentage has been below 10%. Year-to-date U.S. ethanol export data implies annualized export demand of approximately 900 million gallons.
On the co-products side, ethanol producers were using 12.994 million bushels of corn to produce ethanol and 95,644 metric tons of livestock feed, 85,267 metric tons of which were distillers grains. The rest is comprised of corn gluten feed and corn gluten meal. Additionally, ethanol producers were providing 4.60 million pounds of corn oil daily.
Source: Renewable Fuels AssociationShare