U.S. ethanol stocks highest since May
U.S. ethanol stocks continue to grow as demand continues to shrink because of reduced travel due to COVID-19.
The U.S. Energy Information Administration says the domestic supply hit a 29-week high last week, surging 867,000 barrels to 22.95 million, which was also 1.152 million above year ago levels.
The Renewable Fuels Association says net blender inputs and the volume of gasoline supplied to the market were both up sharply last week, but remain well below this point in 2019.
Production was a seven-week low, 957,000 barrels a day, a decline of 34,000 on the week and 107,000 barrels on the year.
Ethanol imports into the West Coast averaged 15,000 barrels a day.
The USDA’s next corn for ethanol use estimate is out January 12th.