Ethanol/DDGS Supply Out of Sync with Gasoline Supply  

Ethanol production climbed 17,000 barrels per day to a 991 million-barrel-per-day average during the week ending December 4, 2020.  DDGS and Ethanol volumes hit their highest levels since the pandemic was announced in late March.  Weekly output increased 1.75 percent but was 7.6 percent below levels seen at this time last year. DDGS output increased by 1,617 metric tons per day and was 7,704 MT per day below production from a year ago. 

Gasoline supply declined five percent and was 14 percent below 2019 levels for the same period. Ethanol stocks continued to build, climbing four percent to 22.1 million barrels, a 27-week high. Sugarcane ethanol imports continued to arrive on the West Coast, adding an additional 6.2 million gallons to ethanol supply during the week. The increase in ethanol output raised corn demand 252…