Ethanol production at multi-month lows


Ethanol production at multi-month lows

U.S. ethanol production has declined for seven consecutive weeks.

The U.S. Energy Information Administration says production averaged 933,000 barrels a day, the lowest weekly average since March, down 40,000 barrels on the week and only up 2,000 on the year, when production was limited by demand uncertainties linked to COVID-19.

The Renewable Fuels Association says net inputs by refiners and blenders and the volume of gasoline support to the market were both above week ago and year ago levels.

The domestic supply hit a six-week low at 21.223 million gallons, a decrease of 335,000 from the previous week, but an increase of 814,000 from the year before.

The USDA says Midwest ethanol prices were higher last week.

The USDA’s next corn for ethanol use estimate is out September 10th.