Ethanol Production Continues to Decline
Source: By Gary Truitt, Hoosier Ag Today • Posted: Thursday, June 22, 2017
According to EIA data, ethanol production averaged 990,000 barrels per day (b/d)—or 41.58 million gallons daily. That is down 12,000 b/d from the week before and the lowest in seven weeks. The four-week average for ethanol production decreased to 1.003 million b/d for an annualized rate of 15.38 billion gallons.
Stocks of ethanol were 22.3 million barrels. That is 0.9% decrease from last week. There were zero imports recorded for the sixth week in a row.
Average weekly gasoline demand shot up 5.9% to 412.3 million gallons (9.816 million barrels) daily, just shy of the all-time weekly record demand logged three weeks prior.
This is equivalent to 150.5 billion gallons annualized. Refiner/blender input of ethanol increased 1.3% to 943,000 b/d, equivalent to 14.46 billion gallons annualized. Year-to-date, ethanol blending is up 1.9% versus the same period last year.
Expressed as a percentage of daily gasoline demand, daily ethanol production dropped to 10.09%–the lowest rate since the week ended July 1, 2016.
