Ethanol production, stocks up on week
U.S. ethanol production moved higher last week and supplies bounced off of the recent near four-year lows.
The U.S. Energy Information Administration says production improved to an average of 937,000 barrels a day, up 14,000 from the previous week, but still down 34,000 from a year ago as the uncertainties about blending demand and COVID-19 limit production schedules.
The Renewable Fuels Association says the volume of gasoline supplied to the market was lower than the week before and refiner imports were higher, with both remaining below last year’s levels.
Stocks gained more than 336,000 barrels to 20.008 million barrels, which is 2.503 million under the year before because of lower production in prior months.
The RFA says imports into the West Coast averaged 25,000 barrels a day, the ninth week out of the last twelve with recorded imports.
The USDA’s next corn for ethanol use estimate is out November 10th.