News
Ethanol production back over a million barrels a day
U.S. ethanol production climbed higher last week.
The U.S. Energy Information Administration says production averaged 1.014 million barrels a day, up 23,000 barrels on the week as plants return from seasonal maintenance, but down 18,000 on the year.
That’s the first time above a million barrels a day since the week ending April 1st, 2022.
Iowa State University’s Center for Agricultural and Rural Development says producer margins gained some ground, holding firmly in positive territory.
The Renewable Fuels Association says net inputs by ethanol refiners and blenders were fractionally higher even as the volume of gasoline supplied to the market dropped 2.5%, indicating solid demand for ethanol despite slower fuel demand.
Stocks of 23.712 million barrels were a decrease of 79,000 from the previous week, but an increase of 4.732 million from a year ago.
The USDA’s next corn for ethanol use estimate is out June 10th.
