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Ethanol production, stocks down on week, year

U.S. ethanol production and stocks notched notable lows last week.

The U.S. Energy Information Administration says production was a four-week low, averaging 965,000 barrels a day, down 11,000 on the week and 26,000 on the year.

That’s at least partially due to seasonal maintenance as the industry waits for increased demand during the summer driving season, with travel expected to be back to pre-pandemic levels.

The Renewable Fuels Association says stocks fell to a 22-week low at 23.291 million barrels, a decline of 72,000 from the previous week and 849,000 below a year ago.

Net inputs by refiners and blenders were 1.5% lower, while the volume of gasoline supplied to the market was 7.9% higher.

Iowa State University’s Center for Agricultural and Rural Development says margins for the average Iowa plant dipped slightly but remained near the highs for the year.

The USDA’s next corn for ethanol use projection is out Friday at Noon Eastern/11 Central.