News

Ethanol production inches up, stocks shrink

U.S. ethanol production moved higher for the eighth week in a row, while stocks sunk to a near three-year low.

The U.S. Energy Information Administration says last week’s production averaged 1.033 million barrels a day, up 3,000 from the previous week, despite the slow reported pace of exports, continued concerns about margins, and uncertainties about federal policy towards renewable fuels. Stocks were down 471,000 barrels at 20.514 million, the tightest domestic supply since the start of 2017.

The USDA’s next for corn ethanol use estimate is due December 10th.