Ethanol production, stocks drop

Ethanol production, stocks drop

U.S. ethanol production declined sharply last week.

The U.S. Energy Information Administration says production averaged 967,000 barrels a day, a drop of 57,000 on the week, but up 4,000 on the year. That week-to-week decline can be tied to seasonal maintenance.

Iowa State University says returns for the average Iowa plant remained firmly in positive territory.

The Renewable Fuels Association says demand signals were friendly as the industry prepares for summer driving season.