U.S. ethanol production ends year on record note
U.S. ethanol production ended 2016 with a new all-time high.
The U.S. Energy Information Administration says production for the week ending December 30th, 2016 was 1.043 million barrels per day, up 15,000 barrels on the week. That was the tenth week in a row with an average of more than a million barrels and was the fourth new all-time high hit last year. Domestic and export demand are strong, margins are good, and there’s plenty of corn available for processing.
Stocks were down 5,000 barrels on the week at 18.678 million, hitting the lowest supply level since the week ending December 2nd.
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