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Weekly Ethanol Production for 6/30/2023

This report courtesy of the Renewable Fuels Association

According to EIA data analyzed by the Renewable Fuels Association for the week ending June 30, ethanol production climbed 0.8% to 1.060 million b/d, equivalent to 44.52 million gallons daily and the largest weekly volume in over six months. Output was 1.5% more than the same week last year and 3.8% above the five-year average for the week. The four-week average ethanol production rate increased 0.6% to 1.045 million b/d, which is equivalent to an annualized rate of 16.02 billion gallons (bg).

Ethanol stocks settled 3.1% lower to 22.3 million barrels. Stocks were 5.2% less than a year ago but 0.6% above the five-year average. Inventories thinned across all regions.

The volume of gasoline supplied to the U.S. market, a measure of implied demand, sprang 3.1% to 9.60 million b/d (147.15 annualized). Weekly demand was the highest since late December 2021 and 1.6% above the five-year average.

Likewise, refiner/blender net inputs of ethanol improved 2.9% to 923,000 b/d, equivalent to 14.15 bg annualized and a five-week high. Net inputs were 2.1% more than the same week last year and 0.9% above the five-year average.

Ethanol exports declined to an estimated 80,000 b/d (23.5 million gallons for the week). There were zero imports recorded for the 30th consecutive week.

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