Ethanol production up for third straight week
Ethanol production moved higher last week, the third in a row with a gain.
The U.S. Energy Information Administration says ethanol production averaged 663,000 barrels a day, up 46,000 on the week, but 408,000 on the year as the industry continues to reel from slower blending demand caused by COVID-19 related social distancing and stay at home orders.
Stocks declined 564,000 barrels to 23.626 million, the tightest supply since January and only 232,000 barrels above a year ago.
The USDA’s next corn for ethanol use estimate is out June 11th.