News

Ethanol production, stocks down on week

U.S. ethanol production and supplies both eased last week.

The U.S. Energy Information Administration says production averaged 1.051 million barrels a day, a decline of 36,000 on the week, but a rise of 75,000 on the year.

Even with that slight week-to-week dip in production and mostly lower Midwest prices, Iowa State University’s Center for Agricultural and Rural Development says producer margins remained firmly in positive territory, keeping pace with higher corn prices and other operating costs.

The Renewable Fuels Association says net inputs by refiners and blenders were fractionally higher while the volume of gasoline supplied to the market was lower, and both were well above a year ago.

Domestic ethanol stocks of 20.705 million barrels were 178,000 less than the previous week, the first decrease since early November, and 2.464 million under this time last year.

The USDA’s next corn for ethanol use estimate is out January 12^th.