Ethanol production climbs, supply grows
U.S. ethanol production was up modestly last week, while stocks hit a multi-month high.
The U.S. Energy Information Administration says ethanol production averaged 1.058 million barrels a day, an increase of 10,000 on the week and 158,000 on the year, when production was constrained by demand uncertainties caused by COVID-19.
The Renewable Fuels Association says net inputs by ethanol refiners and blenders were higher, but the volume of gasoline supplied to consumers was lower, while both were above year ago levels.
Stocks were reported at 21.572 million barrels, the biggest supply since mid-March, and an increase of 452,000 from the previous week and 1.408 million barrels from this time last year.
The RFA says ethanol imports last week averaged 23,000 barrels a day.
The USDA says Midwest ethanol prices last week were mixed.
The USDA’s next corn for ethanol use estimate is out July 12th.