Weekly US corn use for ethanol production rose 2.5%: Platts analysis
The amount of US corn used for domestic ethanol production in the week ended July 15 was 108.045 million bushels, up 2.625 million bushels or 2.5% week on week, according to S&P Global Platts estimates based on Energy Information Administration data.
The EIA reported US fuel ethanol plant production of 1.029 million b/d in the week, an increase of 25,000 b/d from the prior week.
The estimate of corn use is based on an ethanol yield of 2.8 gal/bushel of corn processed.
In the 45 weeks since the current corn marketing year began on September 1, Platts estimates the cumulative amount of corn used for ethanol production to be 4.699 billion bushels, or 89.9% of the Department of Agriculture’s 5.225 billion-bushel projection for the year.
To fulfill this projection, 80.033 million bushels/week must be used for the rest of the marketing year, according to Platts estimates.
In the current marketing year, corn use for ethanol production represents the largest single demand sector at 38.2% of total use.