Weekly Ethanol Production

Weekly ethanol production came in at 1.014 mil barrels/day average. That was down from the previous week but it was 5.8% versus a year ago. When we look at year to date, going back to the start of the crop year Sep 1st, we are up 3% versus a year ago. USDA, in the latest WASDE report is forecasting ethanol production to be up 4.1%. So we’ll need to see the pace pick up going forward or we’ll have to look for some adjustments in lower demand for corn use for ethanol in future WASDE reports.