News
Ethanol production holds as supply shrinks
U.S. ethanol production was steady last week as the supply tightened.
The U.S. Energy Information Administration says production averaged 991,000 barrels a day, unchanged on the week and down 41,000 on the year.
Iowa State University’s Center for Agricultural and Rural Development says margins remained in positive territory for most producers.
The Renewable Fuels Association says net inputs by refiners and blenders hit a 29-week high and the volume of gasoline supplied to the market was sharply higher.
That solid demand pulled stocks 349,000 barrels lower to 23.791 million, but that’s still 4.358 million above a year ago.
The RFA says 36,000 barrels of ethanol were imported into the West Coast, the first reported imports since January.
