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Ethanol At A Glance


13

Ethanol at a Glance - April 13th Edition

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For the week ending on April 8, 2016 corn used in last week's production came in at 98.5 million bushels – down four million bushels from last week. Although a dip in production this time of year is in line with past seasonal patterns it is worth noting that this is the first time in which production has dipped below USDA target average grind. This crop year's cumulative corn used for ethanol production for this crop year is 3.270 billion bushels. Corn use needs to average just 94.3 million bushels per week to meet this crop year's recently adjusted USDA estimate of 5.250 billion bushels. See below.

 

Gasoline demand continues to remain strong, coming in at 7.5% higher than this time last year.

 

Inventories gained 103,000 barrels on the week.

 

Producer margins continue to improve gaining more than 10 cents/gal (35 cents/bu) in about two weeks. With most Midwest plants able to make a little profit some of the best-positioned producers could be earning as much as 15-20 cents/gal (45-55 cents/bu). Compared to last week, FOB distiller dried grains traded steady to $8.00/ short ton lower. Delivered prices traded mostly steady coming in at $3.00 to $12.00 per short/ton lower with last week’s dip in corn prices pressuring corn by-products.

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Quotes are delayed at least 10-minutes. Market Data provided by Barchart.com
These data and comments are provided for information purposes only and are not intended to be used for specific trading strategies. This commentary is written as a daily marketing tool to help farmers sell the grain they raise. Although all information is believed to be reliable, we cannot guarantee its accuracy or completeness. Past performance and testimonials are not necessarily indicative of future results. Commodity trading involves the risk of loss, and you should fully understand those risks before trading. This material should be construed as market commentary, merely observing economic, political and/or market conditions, and not intended to refer to any particular trading strategy, promotional element or quality of service provided by Roach Ag. Marketing, Ltd. Roach Ag. Marketing Ltd. is not responsible for any redistribution of this material by third parties, or any trading decisions taken by persons not intended to view this material. These materials do not necessarily reflect the viewpoints and trading strategies employed by Roach Ag Marketing, Ltd. All forecasts of market conditions are inherently subjective and speculative, and actual results and subsequent forecasts may vary significantly from these forecasts.