Ethanol production was steady or higher now for the 5th week in a row up to 1.04 million barrels per day.
That’s still a little below the level needed but certainly is getting closer and we believe that ethanol will continue to increase in its weekly production seasonally as we move through the June-July timeframe.
Total ethanol production through the first 9 months is up 8.2%, USDA is projecting that corn use for ethanol will be up 6.8%.