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May/Partner
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Posted 12/5/2012 14:24 (#2734449 - in reply to #2734372)
Subject: Re: May/Partner


RBOB stocks had the largest weekly build in over a year with RBOB close to .05 lower as I type and RBOB/E spreads at .22. In past this had lead to less Alcohol being blending and rising E stocks and E-85 is pretty much out of the game at current prices to un-leaded. As corn price rises and if RBOB starts a down-tend is just going to pressure Ethanol margin that much more...... Your the first guy I've seen on Ethanol usage 4-4.5 bb I did some figuring this summer and came up with 4.1-4.2 bb. IMO USDA is on the high end at 4.5 bb E grind and imported Alcohol from Brazil has been running any where's from 200 to 800% above the year over year numbers on a 4 week average since the end of October. This week @ 92,000 thousand barrel up 647% year over year Source weekly EIA report.

The last statement is bearish news to the corn market,,,bearish E margins but you sure do not widely hear about it in the market news or info... And its something with guys sitting with corn in the bins do not wanna hear about either...........
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