News

Ethanol production down on week, supply up

U.S. ethanol production moved lower last week as stocks grew.

The U.S. Energy Information Administration says production averaged 1.039 million barrels a day, down 32,000 from the previous week’s near-six month high and 28,000 barrels lower than a year ago.

The Renewable Fuels Association says net inputs by refiners and blenders were a five-week low, falling 2.7% from the prior week, while the volume of gasoline supply rose 2.5% to the largest volume so far this year as retailers bolstered their supplies after Memorial Day weekend.

Iowa State University’s Center for Agricultural and Rural Development says margins for most producers remain firmly in positive territory.

The domestic supply of 23.636 million barrels were an increase of 675,000 on the week and 3.676 million on the year.

The USDA’s next corn for ethanol use estimate is out Friday at Noon Eastern/11 Central.