Ethanol production up, but still well below a year ago
U.S. ethanol production was up last week.
The U.S. Energy Information Administration says production averaged 617,000 barrels a day, 19,000 above the previous week and the second week in a row with an increase, but 434,000 below last year as slow blending demand caused by COVID-19 related social distancing and stay at home orders continues to impact production.
The volume of gasoline supplied to the market and net inputs for refiners and blenders were also up on the week, down on the year.
Ethanol stocks of 24.190 million barrels were down 5.6% or 1.422 million from the week before, the tightest supply since March 20th, but that is still 1.514 million barrels higher than a year ago.
Earlier this week, the USDA lowered its’ corn for ethanol use projection for the current marketing year.