Ethanol production still running on target, maybe even better.

A good 1.026 million barrel per day production run was noted last week. This was +4.9% from last year in the same week. Our year to date run, +4.4% year/year, is over USDA's current +3.8% goal for annual corn for ethanol. To meet USDA's current goal, without discussing production efficiency, the remainder of the year can fall to +3.3%. So far that seems reasonable.

Gasoline demand last week was -1.7% from last year. Year to date demand is +0.4%.

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