U.S. ethanol production, stocks up on week
U.S. ethanol production and supply both moved modestly higher last week.
The U.S. Energy Information Administration says production averaged 1.024 million barrels a day, up 15,000 on the week and 366,000 on the year.
Iowa State University’s Center for Agricultural and Rural Development says profit margins firmed up for many producers last week and the USDA says Midwest cash ethanol prices were higher.
The supply of 25.507 million barrels was an increase of 24,000 from the previous week, with winter weather limiting demand in parts of the region, and 2.722 million more than this time last year.
The USDA’s next corn for ethanol use estimate is out March 9th.