Ethanol production, stocks gain on week


Ethanol production, stocks gain on week

U.S. ethanol production and supplies moved higher last week.

The U.S. Energy Information Administration says production averaged 1.067 million barrels a day, up 33,000 on the week and 230,000 on the year, as the industry continues to bounce back from slower demand caused by the COVID-19 pandemic.

The Renewable Fuels Association says net inputs by refiners and blenders were modestly lower and gasoline demand hit a twelve-week low, but both remained well above year ago levels.

Ethanol stocks hit a five-week high at 19.96 million barrels, an increase of 372,000 from the previous week, but a decrease of 1.842 million from this time last year.

The USDA says Midwest ethanol prices were higher last week.