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Ethanol production hit hard by weather, Christmas
A blast of winter weather and Christmas impacted ethanol production last week.
The U.S. Energy Information Administration says production had the lowest daily average since early October at 963,000 barrels, a decline of 66,000 on the week and 96,000 on the year.
Iowa State University’s Center for Agricultural and Rural Development says margins remain in negative territory for most Iowa plants.
That drop in production came with a rise in supplies due to slower demand with stocks climbing 569,000 barrels to a 37-week high of 24.636 million barrels, which was 3.96 million more than a year ago.
The Renewable Fuels Association says net inputs by refiners and blenders and the volume of gasoline supplied to the market both hit multi-month highs.
The USDA’s next corn for ethanol use estimate is out January 12th.
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