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Ethanol production down on week, stocks grow
Ethanol production scaled back last week, the first decline since production was disrupted by weather in mid to late February.
The U.S. Energy Information Administration says production averaged 922,000 barrels a day, down 49,000 on the week and 83,000 on the year as continued demand uncertainties linked to COVID-19 keep production in check.
The Renewable Fuels Association says net inputs by refiners and blenders and the volume of gasoline suppled to the market were above the previous week, but below last year’s levels.
The domestic supply of 21.809 million barrels was an increase of 469,000 barrels from the week before and a decrease of 2.331 million from a year ago.
The USDA says cash corn and ethanol prices in the Midwest were higher last week.
The USDA’s next corn for ethanol use estimate is out April 9th.
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