EIA Weekly Data: For the latest week of 8-Apr-16, ethanol production was 14.419 billion gallons annualized, down 584 mil gals from the previous week--and with a weekly residual error of -551 bil gals. Refiner input was 13.942 bil gals annualized, up 138 mil gals from last week, and the calculated inclusion rate for the 139.378 bil gals of mogas receiving ethanol was 10%. About 94.12% of all mogas (with 148.078 bil gals annualized) did indeed receive ethanol. Ethanol stocks were up 4 mil gals to 940 mil gals.

 

The April WASDE increased corn to ethanol use 25 million bushels for the 15-16 crop year to 5.25 billion bushels.

 

Page 2 has the April STEO increasing 2016 & 2017 mogas consumption to 142.858 bil gals & 142.337 bil gals, ethanol production to 15.026 & 14.931 bil gals, and ethanol domestic disappearance to 14.311 & 14.235 bil gals, respectively. EIA's weekly estimates give the 2016 year-to-date annualized average of ethanol domestic disappearance at 14.065 bil gals. Yet, EIA's 2016 YTD annualized average of weekly estimates of domestic refiner and blender net input of fuel ethanol is only 13.279 bil gals, leaving a residual dissappearance of 786 mil gals.

 

Page 3 has OPIS's last Friday 2016 RIN prices all rising a few cents over the past week. As of yesterday, 2016 D3 & D7 RIN prices are trading around $1.81. 2016 D4's are trading around 81 cents, D5's around 79 cents, and D6's around 71 cents.

 

Page 4 has JSA's Nebraska Group 3 ethanol margins jumping again last week 9 cents to 41.3 cents.

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