Weekly Ethanol Production

Ethanol production did increase slightly from last week up to 969 thousand barrels per day but still below the level needed to reach USDA’s corn use estimate.

With ethanol prices a $1 per gallon below the price of gasoline that’s going to promote strong use and ethanol margins have improved from where they were the past 3 months.

Ethanol export will likely be strong, and we believe ethanol production will likely increase up to the level that’s needed in the late May-July timeframe.