News

Ethanol production dips, supplies rise

U.S. ethanol production hit multi-month lows last week, while stocks notched new multi-month highs.

The U.S. Energy Information Administration says production averaged 1.011 million barrels a day, 29,000 less than the previous week and the lowest weekly average since mid-April at least partially because of concerns about margins and uncertainties about the specifics of year-round E15 implementation.

Stocks were up 109,000 barrels at 24.130 million, the second highest weekly total on record, despite that slowdown in production.

The USDA expects record corn for ethanol use this marketing year.