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Ethanol production, stocks down on week, up on year
U.S. ethanol production and stocks both moved lower last week.
The U.S. Energy Information Administration says production averaged 997,000 barrels a day, a decrease of 27,000 on the week, but an increase of 148,000 on the year.
Iowa State University’s Center for Agricultural and Rural Development says ethanol margins for most producers firmed up last week and the USDA says Midwest cash ethanol prices were higher.
The Renewable Fuels Association says net inputs by refiners and blenders and the volume of gasoline supplied to the market were both up modestly.
Ethanol stocks fell 574,000 barrels to 24.933 million, but that’s still 2.508 million above a year ago.
The USDA’s next corn for ethanol use estimate is out on the 9th at Noon Eastern/11 Central.
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