Ethanol production slumps to multi-month lows
Domestic ethanol production fell to multi-month lows last week.
The U.S. Energy Information Administration says production averaged 983,000 barrels a day, a decrease of 39,000 on the week, but an increase of 10,000 on the year. That’s the lowest weekly average since April as tighter margins for some plants discourage production.
The Renewable Fuels Association says net inputs by ethanol refiners and blenders was up over 2%, hitting its highest volume in more than a year, while the volume of gasoline supplied to the market was gained 2.5%, notching a six-week high.
Ethanol stocks were reported at 23.446 million barrels, 190,000 above the week before and 1.888 million larger than this time last year.
The USDA’s next corn for ethanol use estimate is out September 12th.