Average daily ethanol production, supply up on week
U.S. ethanol production and stocks grew last week.
The U.S. Energy Information Administration says production averaged 1.043 million a day, an increase of 22,000 on the week and 30,000 on the year.
The Renewable Fuels Association says that one measure of demand, net inputs by ethanol refiners and blenders, hit a five-week high, but another, the volume of gasoline supplied to the market, dropped even as gas prices declined across the U.S.
Ethanol stocks were reported at 23.394 million barrels, up 66,000 from the previous week and 745,000 from this time last year.
The USDA’s next corn for ethanol use estimate is out on the 12th.