Ethanol production, stocks below a week ago
U.S. ethanol production declined last week and stocks got tighter.
The U.S. Energy Information Administration says production averaged 997,000 barrels per day, a 10-week low and a decrease of 17,000 on the week and 45,000 on the year.
The Iowa State University Center for Agricultural and Rural Development says operating margins for the average Iowa plant last week were near the breakeven point, just below year ago levels.
The Renewable Fuels Association says net inputs by refiners and blenders were up fractionally on the week, while the volume of gasoline supplied to the market was more than 4% higher.
Ethanol stocks of 26.188 million barrels were down 206,000 from the previous week’s near one-year high, but were 40,000 above a year ago.
The USDA’s next corn for ethanol use estimate is out April 11th.