Ethanol/DDGS Output Edges Higher, Ethanol Stocks at 24-Week Low

Ethanol production increased 4,000 barrels per day to an 841 million-barrel-per-day average during the week ending June 12, 2020, reaching the highest weekly production level since output cratered in late March, according to the EIA’s Weekly Petroleum Status Report. Output increased fractionally but remains 22 percent below production levels at this time last year. DDGS output climbed 380 metric tons daily during the past week but is 22,826 MT below daily production from a year ago. 

Gasoline supply was basically unchanged, slipping 0.4 percent. Gasoline supply is 21 percent below 2019 levels for the same weekly period. Ethanol stocks reached a 24-week low at 21.3 million barrels.  Ethanol imports were absent again during the week. The increase in ethanol production raised corn demand by 59 thousand bushels per day. DDGS output moved with ethanol production, rising 0.5…