NASHVILLE, Tenn. (RFD-TV) — Ethanol production edged up to a five-week high as harvest advances. EIA data analyzed by the Renewable Fuels Association show output at 1.07 million barrels per day (b/d) — about 45.11 million gallons/day — up 0.3 percent week over week, 3.1 percentcent above last year, and 4.2 percent over the three-year average. The four-week average eased 0.5 percent to 1.04 million b/d, an annualized pace of 16.00 billion gallons.
Inventories slipped 0.4 percent to 22.6 million barrels, yet remained 1.6 percent above a year ago and 4.1 percent over the three-year average. Stocks declined everywhere except the East Coast (PADD 1) and Rocky Mountains (PADD 4). Gasoline supplied — a demand proxy — fell 5.2 percent to 8.46 million barrels per day (b/d) (a 19-week low, ~129.97 bg annualized), 1.9 percent under last year and 3.3% below the three-year average.
Refiner/blender net inputs of ethanol rose 2.6 percent to 915,000 barrels per day (b/d) (~14.07 bg annualized), 0.3 percent above last year and 0.4 percent over the three-year average. Exports eased 21.7 percent to an estimated 108,000 b/d (~4.5 million gal/day). EIA has shown no imports for over a year.
Farm-Level Takeaway: Slightly higher output amid softer gasoline pull points to steady corn grind — watch regional stocks and export pace for basis clues.
Tony St. James, RFD-TV Markets Expert
As we start the new year, let’s take a look at some of the legislative items from 2023 affecting agriculture that will continue to play out in the political area for months to come.
January 02, 2024 12:00 PM
·
In today’s production update, Total Acre Farming’s David Hula has an enlightening conversation with Jeremy Rountree about a new, industry-disrupting product from
Brandt Fungicide.
November 02, 2023 12:23 PM
·
A new study identified compounds within a “failed” tuberculosis treatment that effectively fight some herbicide-resistant “superweeds” in Australia. Researchers say their findings could be a “game-changer for the agriculture sector.”
A new
study from the University of California shows E-15 provides more emissions reductions compared to other blends of gasoline on the market.
In today’s Performance Through Partnership feature, brought to you by Golden Harvest, we meet farmer Kevin Siffring of Surprise, Nebraska.
Chris Weaver, a sixth generation farmer in Finksburg, Maryland, talks about his successful relationship with his partners on the Golden Harvest Agronomy Team for his soybean and corn operation.
Save this list to have on hand when you hit your local grocery store, farmerfarmers market, or CSA all season long!
March 06, 2023 08:26 AM
·
