Ethanol/DDGS Output Hits 8-Week High, Ethanol Stocks at 15-Week Low

Ethanol production increased 61,000 barrels per day to a 724 million-barrel-per-day average during the week ending May 15, 2020, hitting an eight-week high, according to the EIA’s Weekly Petroleum Status Report. Production continued to improve for a fourth consecutive week, rising 9.2 percent but is still 32 percent below production levels at this time last year. DDGS output was up 5,802 metric tons daily for the week but is 31,671 MT below daily production from a year ago. 

Gasoline supply climbed 6.8 percent and is 23 percent below 2019 supply for the same weekly period. Ethanol stocks reached a 19-week low of 23.20 million barrels.  Ethanol imports were absent again during the week. The increase in ethanol production raised corn demand by 904 thousand bushels per day. DDGS output moved with ethanol production, rising 9.2 percent for the…