Another new record high for ethanol production
U.S. ethanol production started the year with a bang.
The U.S. Energy Information Administration says production for the week ending January 6th averaged a record 1.049 million barrels per day, up 6,000 barrels from the previous week’s record high.
Weekly production has averaged more than a million barrels a day since late October.
Domestic demand for U.S. ethanol is good, margins are attractive, and there’s plenty of corn available for processing.
The recent run of high production pushed stocks above 20 million barrels for the first time since late September, to 20.009 million. The previous week’s stocks total was 18.678 million barrels.
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