News
Ethanol production, supply inch higher
U.S. ethanol production and stocks were both up slightly last week.
The U.S. Energy Information Administration says ethanol production last week averaged 931,000 barrels a day, up 4,000 from the previous week, but still down 107,000 from last year because of uncertainties about blending demand caused by COVID-19.
The Renewable Fuels Association says blending demand declined modestly for the second week in a row, even as the amount of gasoline supplied to the market shot 6.2% higher. Both measures of demand remain well below last year.
The domestic supply of 20.409 million barrels was 139,000 higher than the week before, but almost 2.573 million lower than a year ago because of the reduced rate of production.
The USDA’s next corn for ethanol use is out September 11th.
