News

Ethanol production down, stocks tighten

U.S. ethanol production last week declined for the second week in a row.

The U.S. Energy Information Administration says production averaged 1.036 million barrels a day, down 15,000 on the week, as the industry monitors margins, along with consumer and export demand, while waiting to see if there are changes to federal policy on renewable fuels.

Stocks were reported at 22.629 million barrels, 117,000 less than the previous week.

The USDA expects record corn for ethanol use this marketing year, with new supply and demand projections out October 11th.