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Ethanol production moves higher as stocks tighten
Ethanol production bounced back last week as stocks tightened.
The U.S. Energy Administration says ethanol production averaged 987,000 barrels a day, an increase of 22,000 on the week, but a decrease of 4,000 on the year.
That week to week rise follows some plants coming back online after seasonal maintenance as the industry prepares for summer driving season and greater access to E15.
Iowa State University’s Center for Agricultural and Rural Developments says margins for the average Iowa plant improved slightly last week, remaining firmly in profitable territory.
The Renewable Fuels Association says stocks fell to their lowest levels since November 2022 at 23.191 million barrels, a decline of 100,000 from the previous week and 600,000 under a year ago.
Other demand signals were mixed, with net inputs by refiners and blenders up 1.3%, while the volume of gasoline supplied to the market was down 4.2%.
The USDA’s next corn for ethanol use estimate is out June 9th.
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