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rickgthf
Senior Advisor

EIA gasoline supplied as of 6/19 ....

EIA gasoline supplied as of 6/19, 8.608 million barrels per day up from 7.87 million barrels per day last week &  9.466 million barrels per day last year.

Weekly ethanol production 893 thousand barrels per day up from 841 thousand barrels per day last week & 1,072,000 brls. last year.

Ethanol stocks, 21, 043,000 barrels down from 21, 346, 000 last week & 21,567,000 last year.

 Headed in the right direction, at least.

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4 Replies
rsbs
Advisor

Re: EIA gasoline supplied as of 6/19 ....

thanks for posting that .....with the coming Chinese purchases, and maybe a weather scare or something we could still see a nice summer rally.

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illinifarmer
Advisor

Re: EIA gasoline supplied as of 6/19 ....

You can take that to the bank, down heavy today.

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illinifarmer
Advisor

Re: EIA gasoline supplied as of 6/19 ....

These guys don’t trade on fundamentals, facts, weather things that matter.  Profit take and run, keep prices suppressed and cheap enough to do it every week.

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rickgthf
Senior Advisor

They're trading coronavirus.

Unfortunately, the traders are trading the coronavirus outbreaks in the Southern states.  It seems that the people and politicians there are going to have to learn the hard way.

  I suspect gasoline consumption will be down again in the next few weeks.  Their premature opening up will be seen as a big mistake.

  Some people who live on Eastern Long Island and whose land I farm, came up to check on their hunting camp & mow the grass last weekend.  Those people are pretty much shell-shocked and rightly so.  I stopped to say hello and the first thing they did was put their masks on at fifty feet away.  They said that at one point the backhoes were digging graves in the cemeteries as fast as they could and they couldn't keep up.

  Like I said, the people in the Red States are going to have a hard lesson to learn unless they smarten up fast.

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