According to EIA data, ethanol production averaged 972,000 barrels per day (b/d)—or 40.82 million gallons daily. That is up 3,000 b/d from the week before, and the fourth straight weekly increase in output. The four-week average for ethanol production stood at 953,000 b/d for an annualized rate of 14.61 billion gallons. On a year-to-date basis, output has averaged 14.52 billion gallons annualized—1.1 billion gallons more than EPA’s 5/29/2015 proposal of 13.4 billion gallons for the 2015 RFS.
Stocks of ethanol stood at 20.1 million barrels. That is a 0.1% decrease from last week.
Imports of ethanol were non-existent for the 21st time in 22 weeks.
Gasoline demand for the week averaged 377.1 million gallons daily. Refiner/blender input of ethanol averaged 874,000 b/d, a four-week low in the aftermath of Memorial Day weekend.
Expressed as a percentage of daily gasoline demand, daily ethanol production was 10.83%, the highest in eight weeks.
On the co-products side, ethanol producers were using 14.738 million bushels of corn to produce ethanol and 108,478 metric tons of livestock feed, 96,709 metric tons of which were distillers grains. The rest is comprised of corn gluten feed and corn gluten meal. Additionally, ethanol producers were providing 5.72 million pounds of corn distillers oil daily.