Ethanol Margins Improve and Stronger Co-Product Pricing

Ethanol production increased 4,000 barrels per day to a 945 thousand-barrel-per-day average during the week ending January 15, 2021.  DDGS and Ethanol volumes increased slightly as margins improved.  Weekly output was fractionally higher but 10 percent below levels seen at this time last year. DDGS output increased by 380 metric tons per day but was 9,891 MT per day below production from a year ago. 

Gasoline supply increased 7.7 percent but was six percent below 2020 levels for the same period. Ethanol stocks declined to 23.62 million barrels, edging off a 35-week high.  There were no sugarcane ethanol imports on the West Coast for a fifth consecutive week. Increased ethanol output raised corn demand 59 thousand bushels per day. DDGS output moved with ethanol production, realizing fractional gains for the…