SHARE

According to EIA data, ethanol production averaged 912,000 barrels per day (b/d)—or 38.30 million gallons daily. That is up 25,000 b/d from the week before. The four-week average for ethanol production stood at 912,000 b/d for an annualized rate of 13.98 billion gallons, the lowest since October 2014.

Stocks of ethanol stood at 20.3 million barrels. That is a 2.2% decrease from last week and the lowest in 17 weeks.

Imports of ethanol were zero b/d. This is the third straight week imports were non-existent and the 18th time in 19 weeks.

Gasoline demand for the week averaged 386.4 million gallons daily, up sharply from the previous week and representing a six-week high. Refiner/blender input of ethanol averaged 891,000 b/d, tied for the third-highest since EIA began reporting weekly data nearly five years ago.

Expressed as a percentage of daily gasoline demand, daily ethanol production was 9.91%—the first time since early October 2014 that the ratio has dipped below 10%.

On the co-products side, ethanol producers were using 13.828 million bushels of corn to produce ethanol and 101,782 metric tons of livestock feed, 90,739 metric tons of which were distillers grains. The rest is comprised of corn gluten feed and corn gluten meal. Additionally, ethanol producers were providing 5.37 million pounds of corn distillers oil daily.