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Ethanol production, stocks dip slightly
Ethanol production trickled lower last week, while stocks got a little tighter.
The U.S. Energy Information Administration says production averaged 1.024 million barrels a day, the lowest since late January and a decline of 33,000 on the week, but a rise of 10,000 on the year.
Iowa State University’s Center for Agricultural and Rural Development says operating margins for the average Iowa plant moved closer to the breakeven line, indicating a lower profit or even a loss for some producers.
The Renewable Fuels Association says net inputs of ethanol purchased by refiners and blenders and the volume of gasoline supplied to the market were both up fractionally from the previous week.
Ethanol stocks were a three-week low at 25.782 million barrels a day, 269,000 under the week before and 612,000 below a year ago.
Ethanol exports averaged 124,000 barrels a day, an increase of 12,000 from the prior week.
The USDA’s updated corn for ethanol use estimate is out April 11th.
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