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Ethanol production holds as stocks rise slightly
U.S. ethanol production held steady last week.
The U.S. Energy Information Administration says production 1.052 million barrels a day, unchanged on the week and up 1,000 on the year.
Iowa State University’s Center for Agricultural and Rural Development says operating margins for the average Iowa plant improved a little, while staying just below the profit line.
The Renewable Fuels Association says ethanol stocks hit a six-week high at 22.979 million barrels, 175,000 higher than last week and 233,000 above last year.
Net inputs by refiners and blenders and the volume of gasoline supplied to the market were both down fractionally.
Ethanol exports averaged 104,000 barrels a day, an increase of 17,000 from a week ago.
The USDA’s next corn for ethanol use projection is out July 12th.
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