Ethanol production increased 19,000 barrels per day to a 617 million-barrel-per-day average during the week ending May 8, 2020, according to the EIA’s Weekly Petroleum Status Report. Production continued to improve for a second consecutive week, rising 3.2 percent but is still 41 percent below production levels at this time last year. DDGS output increased 1,807 metric tons daily for the week but is 41,277 MT below daily production from a year ago.
Gasoline supply increased 11 percent per day but is 19 percent below 2019 supply for the same weekly period. Ethanol stocks continued lower for a third consecutive week, reaching their lowest level in seven weeks. Ethanol imports were absent during the week. The increase in ethanol production raised corn demand by 281 thousand bushels per day. DDGS output moved in sync with ethanol production, rising 3.2 percent for the week.
Ethanol…
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