Ethanol production up as stocks dip
U.S. ethanol production moved modestly higher last week.
The U.S. Energy Information Administration says production averaged 969,000 barrels a day, up 6,000 on the week and 17,000 on the year, with producers encouraged by solid margins.
According to Iowa State University’s Center for Agricultural and Rural Development, those margins did tick slightly lower, but remained in positive territory.
The Renewable Fuels Association says net inputs by ethanol refiners and blenders and the volume of gasoline supplied to the market were a little bit above a week ago.
That improved demand pulled the domestic supply to a fifteen week low of 23.887 million barrels, which was a decrease of 78,000 from the previous week, but an increase of 3.447 million barrels from this time last year.
The USDA’s next corn for ethanol use projection is out on the 12th.