US ethanol demand rose WoW despite a decline in domestic gasoline consumption, according to Wednesday’s DoE dataset. US ethanol output rose by 0.5% WoW to 943Mbbl/d, while stocks declined by another 0.6% implying leaving inventory levels roughly on par with this time last year levels, after sitting comfortably above since October 2014, and stronger ethanol consumption despite indications that gasoline consumption fell.[embeddoc url=”http://prima-markets.com/wp-content/uploads/2015/09/PRIMA-US-Weekly-Fuel-Data-30-September-20151.pdf” viewer=”google”]
US ethanol export indications meanwhile indicates strong overseas demand for US ethanol, with vessel line up data showing US exports for September and the beginning of October sitting at 117,000mt with most of this going to China and the Philippines and smaller volumes going to India and Mexico.
Gasoline production jumped up again 1.4% WoW, now sitting at 9,674Mbbl/d with a considerable build on stocks of 1.5%, implying a fall in gasoline demand of 100Mbbl/d. US crude oil production fell slightly 40Mbbl/d, with a slight stock build of 0.9%.