date:May 24, 2013
's cumulative corn used for ethanol production is 3.2 billion bushels. Corn use needs to average 94.42 million bushels per week to meet this crop year's USDA estimate of 4.6 billion bushels. Stocks as of May 17th were 16.18 million barrels, down 1.5% vs. last week and down 24.5% vs. last year.
This is the lowest inventory level since November 5th, 2010. This was the 4th straight week with zero imports reported and implied demand fell to 6.37 million barrels, down only modestly from 6.42 the wee