Ethanol production lower as stocks rise slightly
U.S. ethanol production has slipped for a second consecutive week.
The U.S. Energy Information Administration says production hit an eight-week low, averaging 1.023 million barrels a day. That’s a decline of 44,000 from the previous week as some plants undergo seasonal maintenance, but up 1,000 from a year ago.
Iowa State University’s Center for Agricultural and Rural Development says projected operating margins for the average Iowa plant improved, climbing further into positive territory.
The Renewable Fuels Association says net inputs by ethanol refiners and blenders were fractionally lower, while the volume of gasoline supplied to the market was sharply higher.
Ethanol stocks were reported at 22.88 million barrels, 20,000 above the prior week, but 376,000 below early August 2022.
Ethanol exports averaged 69,000 barrels a day, a drop of 72,000 on the week.