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.