News

Ethanol production down on week, stocks up

 

U.S. ethanol production last week averaged less than a million barrels a day for just the second time this year. The last time below that mark was the first week of 2018.

The U.S. Energy Information Administration says production averaged 985,000 barrels a day, 24,000 lower than the previous week, with some plants off line for seasonal maintenance ahead of summer fuel blending needs. A year ago, production averaged 987,000 barrels per day.

Stocks were reported at 21.701 million barrels, up 358,000 on the week, but down 1.568 million from last year.

The USDA expects record corn demand for ethanol use this marketing year, with the next set of projections out May 10th.