Production was down sharply from last week from 1.051 to 1.022 billion barrels per day.

The good news is that is still very close to the level needed to reach USDA’s current estimate.

Stocks are down sharply from last week to 21.298 million barrels.

That’s still above last year but the lowest level of fuel ethanol stocks so far this marketing year.

You can see the sharp drop in ethanol production, normally about this time of year we start to ramp of production.

We do believe production ramp up through October-December.

Ethanol stocks increased to 22.69 million barrels.

Stocks are well above the year ago level despite the fact that gasoline consumption is running about 4% below the year ago level.

We clearly have some negative news from the ethanol industry today.

As harvest ramps up and new crop works its way into the pipeline, we believe ethanol production will increase.

Ethanol stocks declined for the third consecutive week down to 22.5 million barrels.

That’s good news but its still well above where we were a year ago at this time.

Overall, the weekly ethanol production report provided some mixed influences for the corn market.

Ethanol production down sharply at 901 thousand barrels per day, that was very disappointing.

It’s not unusual to see ethanol production dip just before harvest especially in years of tight stock.

Nonetheless ethanol production at 910 is somewhat disappointing for the corn trade today.

Ethanol production up slight from last week to 987 as the grain marketing year or crop year comes to an end.

Year to date ethanol production up 6.3%, USDA projecting that corn use for ethanol would be up 6.4%.

Stocks up to 23.798 million barrels which is a little disappointing given the slower ethanol production over the past couple of weeks.

Today’s report would be considered mixed news, ethanol production running on track, but stocks are increasing.