U.S. ethanol stocks at more than six-month high
U.S. ethanol stocks climbed higher last week while production declined, reflecting the slow demand as COVID-19 continues to restrict travel.
The U.S. Energy Information Administration says the domestic supply was at 23.504 million barrels, the largest since mid-May, up 335,000 on the week and 2.47 million on the year.
Production averaged 934,000 barrels a day, falling 41,000 from the previous week and 132,000 barrels below a year ago, partially due to a slowdown for the holidays, but also that reduced demand because of less travel.
The Renewable Fuels Association says ethanol refiner and blender inputs and the amount of gasoline supplied to the market were above the prior week, but still much lower than this time last year.
There were no ethanol imports reported.
The USDA’s next corn for ethanol use estimate is out January 12th.