Ethanol production has missed its goal in 9 of the past 10 weeks.

Ethanol production last week ran 1.057 million barrels per day. This continues a slightly disappointing pattern that has shown for now 10 weeks.

USDA's 5.450 billion bushel whole-year corn for ethanol goal is +5.3% from last year. Noting this year's production run is less efficient than last year, we are using -1.3%, the goal for actual ethanol production is +4.0%. With a year to date run of +3.8% the remainder of the year needs to run +4.7%. We have only met that needed +4.7% goal in one of the past 10 weeks.

Officially, we are behind USDA's general goal.  If the remainder of the year runs…+3.0% the miss is 119 million bushels.

                                                                                                                                 +4.0%         "        -67

The prior week's general gasoline usage was positive, +2.1% vs. last year. However, the pattern from September 1 is only -0.4%.

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