Ethanol Stocks Hit Record High

Cindy Zimmerman

eiaAccording to the latest figures from the Energy Information Administration, ethanol stocks hit an all-time record last week of 22.7 million barrels, equivalent to a 27-day supply.

Ethanol production for the week ending 3/16/12 averaged 893,000 barrels per day (b/d) – or 37.51 million gallons daily. That is up slightly from the previous week and makes the 4-week average for ethanol production so far this year total 897,000 b/d for an annualized rate of 13.75 billion gallons.

Meanwhile, gasoline demand for the same week averaged 351.9 million gallons daily. Expressed as a percentage of daily gasoline demand, daily ethanol production was 10.66%. Since the beginning of the year, weekly gasoline demand has averaged 345.7 million gallons daily, meaning the annualized E10 blend wall is 12.6 billion gallons.

On the co-products side, ethanol producers were using 13.540 million bushels of corn daily to produce ethanol and 100,506 metric tons of livestock feed, 90,677 metric tons of which were distillers grains. The rest is comprised of corn gluten feed and corn gluten meal. Additionally, ethanol producers were providing 4.1 million pounds of corn oil daily.

Ethanol, Ethanol News, RFA