News

Ethanol production holds near record levels

U.S. ethanol production and stocks both moved modestly higher last week.

The U.S. Energy Information Administration says production averaged 1.107 million barrels a day, the second highest average on record, and an increase of 1,000 barrels on the week and 56,000 on the year.

The high of 1.108 million barrels a day was set in early December 2017.

Margins have improved recently and plant capacity is reportedly around 97%.

The Renewable Fuels Association says net inputs by ethanol refiners and blenders dipped from the week before, while the volume of gasoline supplied to the market was up and both remained well above year ago levels.

The domestic supply of 20.129 million barrels was a gain of 204,000 from the prior week and 454,000 from last year.

The USDA says Midwest ethanol prices were higher last week.