Ethanol Blog
Rick Kment DTN Analyst

Wednesday 04/24/13

Ethanol Supported on Corn Stability

After ethanol futures fell nearly 6 cents per gallon early in the week, the fractional gain seen Wednesday is considered a win for the market. The moderate gains in the corn market seen early in the session slowly eroded with May futures closing 1 cent higher. Ethanol production was 882,000 gallons per day at the end of last week compared to the week prior. Total ethanol inventory levels also grew.

This pushed stocks 4.2 million gallons higher than week-ago levels. But with all of this, traders are still looking for firmer demand support over the coming weeks and months. The bounce in gasoline demand and reduced stocks levels across the gasoline market seem to be helping to solidify the idea that buyers are gearing up for what could be a moderately active summer.

This is likely to help increase overall ethanol disappearance over the next several weeks.

Rick Kment can be reached at rick.kment@telventdtn.com

Posted at 4:44PM CDT 04/24/13 by Rick Kment
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