News

Ethanol production, stocks down on week, up on year

U.S. ethanol production and stocks both peeled back last week while holding above year ago levels.

The U.S. Energy Information Administration says production averaged 1.056 million barrels a day, a decrease of 17,000 on the week, but an increase of 97,000 on the year.

The Renewable Fuels Association says the domestic supply dipped for the first time since early March, down 208,000 barrels from the previous week at 26.208 million, but that was still up 1.08 million from this time last year.

Iowa State University’s Center for Agricultural and Rural Development says operating margins for the average Iowa plant crept slightly higher while remaining below a year ago, reflecting smaller profits for some processors.

Net inputs of ethanol purchased by refiners and blenders and the volume of gasoline supplied to the market both saw week-to-week declines.

Ethanol exports of 156,000 barrels a day were a jump of 85,000 from the previous week.

Corn for ethanol use remains on pace to meet or exceed USDA projections for the current marketing year, which runs through the end of August.