Written Commentary
EIA Weekly Ethanol Production (for week ending 5/2/2025)
Ethanol Production dropped about 6 million gallons week over week. The US produced 1.02M barrels per day last week. We could see corn usage for ethanol slightly lower in next week’s WASDE report.
EIA Weekly Ethanol Stocks
Ethanol Stocks were below expectations and slipped to 25.2M barrels for week ending 5/2/25. It is typical to see stocks fall at this time of year and we are still about 2M barrels more than the 5-year average.
EIA Weekly Implied Corn Usage
Corn Usage was about 500K bushels short of the average needed per week to reach the USDA’s most recent 5.5 billion bushel usage estimate.
*Corn usage estimate subtracts sorghum used for ethanol based on USDA monthly grain crush report. Bushel to gallon conversion is based on implied yield: EIA monthly ethanol production divided by net (corn and sorghum) bushels crushed from USDA month report.
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