Ethanol production at multi-week lows
U.S. ethanol production declined last week as stocks rose.
The U.S. Energy Information Administration says production averaged 1.035 million barrels a day, a seven week low and down 44,000 on the week, partially due to Thanksgiving, but up 105,000 on the year.
Iowa State University’s Center for Agricultural and Rural Development says ethanol margins dipped slightly, but remained near the recent highs and the USDA says Midwest ethanol prices were higher.
The Renewable Fuels Association says net inputs by refiners and blenders and the volume of gasoline supplied to the market were below prior week levels, while remaining above last year by a large margin. Those inputs and the volume of gasoline were 31-week and six-month lows, respectively.
The domestic supply notched a twelve-week high at 20.301 million barrels, an increase of 137,000 from the previous week, but a decrease of 939,000 from a year ago.
The USDA’s next corn for ethanol use estimate is out Thursday, December 9th.