Ethanol production struggles for 11 weeks.

Another disappointing week for ethanol production was reported. 1.043 million barrels per day was last week's run. This was -0.9% from last year in the same week. This marks 11 weeks with a lowered production.

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 +3.6% the remainder of the year needs to run +5.2%. We have only met that needed goal in one of the past 11 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

Implied gasoline usage last week was -4.3% from last year. Since September 1, the start of the corn marketing year, usage has run -0.5% from last year.

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