Ethanol/DDGS Output Reach New Weekly Low, Stocks Move Higher, Gasoline Supply Rises

• Ethanol production declines to 563,000 bpd; Lowest on Record
• Gasoline demand rises 4.5% to 5.3 million bpd
• Ethanol Stocks hit all-time high – 27.7 million barrels

According to the EIA Weekly Petroleum Status Report, ethanol production declined 7,000 barrels per day to a 563 million-barrel-per-day average during the week ending April 17, 2020. Production reached a new all-time low but appears to be bottoming.  Ethanol output is down 485,000 barrels per day, or 46 percent, from last year at this time.  DDGS output fell 1.2 percent for the week and is 46 percent below levels at this time last year.

Gasoline supply increased 4.5 percent to 5.3 million barrels per day but is 44 percent below 2019 demand for the same…