Ethanol production down as supply rises
U.S. ethanol production declined slightly last week.
The U.S. Energy Information Administration says production averaged 1.035 million barrels a day, 9,000 less than the previous week, but that could fall further as some producers cut hours or idle plants on poor margins and blending demand concerns because of the spread of COVID-19.
Ethanol stocks were up 264,000 barrels on the week at 24.598 million, the fourth largest inventory on record.
The USDA’s next corn for ethanol production estimate is out April 9th.