Ethanol production bounces back, stocks tighten
U.S. ethanol production rebounded last week as the supply got slightly tighter.
The U.S. Energy Information Administration says production averaged 1.034 barrels a day, the first week-to-week increase since mid-June, and up 29,000 on the week and 6,000 on the year.
The Renewable Fuels Association says net inputs by ethanol refiners and blenders were steady and the volume of gasoline supplied to the market was up sharply, but both were below year ago levels.
The domestic ethanol supply of 23.553 million barrels were 53,000 less than the previous week, but 1.035 million more than this time last year.
The USDA’s next corn for ethanol use estimate is out August 12th.