Ethanol production steady on week
U.S. ethanol production held last week as stocks got a little tighter.
The U.S. Energy Information Administration says production averaged 1.009 million barrels a day, unchanged from the previous week and up 120,000 from a year ago.
Iowa State University’s Center For Agricultural and Rural Development says operating margins for the average Iowa ethanol production dipped slightly while remaining near this year’s highs.
The Renewable Fuels Association says stocks of 21.884 million barrels were a decrease of 164,000 on the week, but an increase of 199,000 on the year.
Net inputs by ethanol refiners and blenders were modestly higher even as the volume of gasoline supplied to consumers dropped 7%.
Ethanol exports averaged 122,000 barrels a day, a gain of 45,000 from the prior week.
The USDA’s next corn for ethanol use estimate is out October 12th.