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Ethanol production, domestic supply fall from last week
U.S. ethanol production and stocks both moved lower last week.
The U.S. Energy Information Administration says production averaged 1.018 million barrels a day, a decline of 18,000 on the week and 42,000 on the year.
Iowa State University’s Center for Agricultural and Rural Development says margins for the average Iowa plant receded slightly, while remaining in positive territory.
The Renewable Fuels Association says ethanol stocks dropped 722,000 barrels from the previous week to 22.226 million, which was 971,000 below a year ago.
Other demand factors were mixed, with net inputs by refiners and blenders nearly 3% higher, but the volume of gasoline supplied to the market was fractionally lower.
Ethanol exports averaged 76,000 barrels a day, 21,000 less than last week.
The USDA’s next corn for ethanol use estimate is out July 12th.
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