U.S. #ethanol, week ended May 29:Output 765 KB/D, up 6% on wk, highest since late March
Stocks 22.48 MB, down 3% on wk, 6th consec decline
Implied daily usage 865 KB/D, up 82% from Apr 3 low but down 19% from mid MarchGas demand up 49% from low
but down 22% pre-virus
I estimate that to date, some 410 million bushels of U.S. #corn demand has been lost by way of ethanol.
