Ethanol production continues to climb
Ethanol production moved higher last week, the fifth week in a row with an increase.
The U.S. Energy Information Administration says production averaged 765,000 barrels a day, up 41,000 on the week for the highest average since March because of blending demand rising slowly as COVID-19 related restrictions relax, but that is still 279,000 barrels below a year ago.
Ethanol stocks were down 700,000 barrels to 22.476 million, the tightest supply since the first week of the year and 77,000 barrels less than this time last year.
The USDA’s next corn for ethanol use estimate is out June 11th.