Floor Talk November 3, 2021
Ethanol output rises
Just released: According to EIA data analyzed by the Renewable Fuels Association for the week ending October 29, ethanol production edged higher by 2,000 barrels per day (b/d), or 0.1%, to 1.107 million b/d. This is equivalent to 46.49 million gallons daily and falls just shy of the record high set in Dec. 2017. Production was 15.2% above the same week last year, which was affected by the pandemic, and 9.2% above the same week in 2019. The four-week average ethanol production volume increased 3.0% to 1.085 million b/d, equivalent to an annualized rate of 16.63 billion gallons (bg).
Ethanol stocks grew 1.0% to 20.1 million barrels. Stocks were 2.3% above the year-ago level but 8.0% lower than the same week in 2019. Inventories built across all regions except the East Coast (PADD 1) and West Coast (PADD 5).