News
Ethanol production down for ninth week in a row
U.S. ethanol production has declined for nine consecutive weeks due to demand concerns caused high gas prices and COVID-19 infections. There are also uncertainties about Renewable Volume Obligations.
The U.S. Energy Information Administration says production last week averaged 905,000 barrels a day, a decline of 28,000 on the week and 17,000 on the year.
That’s the lowest weekly production average since late September 2020.
The Renewable Fuels Association says net inputs by refiners and blenders were steady and the volume of gasoline supplied to the market was fractionally higher, with both above year ago levels.
The domestic ethanol supply hit an eleven-week low at 21.11 million barrels, down 113,000 from the previous week, but up 228,000 from this time last year.
The USDA says Midwest ethanol prices were steady to mostly higher than the prior week.
The USDA’s next corn for ethanol use estimate is out September 10th.
