Ethanol production, stocks recede
U.S. ethanol production dipped last week while stocks fell.
The U.S. Energy Information Administration says production averaged 1.011 million barrels a day, down 21,000 on the week, but up 287,000 on the year, when many facilities were either limiting production or closed due to demand concerns caused by reduced travel.
Stocks of 18.98 million barrels were 453,000 barrels lower than the previous week and 4.196 million less than last year, for the tightest domestic supply since late 2016.
The Renewable Fuels Association says net inputs by refiners and blenders receded from the week before, while the volume of gasoline supplied to the market grew, and both of those demand metrics were well above year ago levels.
The USDA says Midwest ethanol prices were mixed, mostly higher, last week.
The next set of ethanol production and stocks numbers will be out Thursday, June 3rd, delayed a day by the Memorial Day holiday.
The USDA’s next corn for ethanol use projection is scheduled for June 10th.