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Ethanol production, stocks drop

U.S. ethanol production declined sharply last week.

The U.S. Energy Information Administration says production averaged 967,000 barrels a day, a drop of 57,000 on the week, but up 4,000 on the year. That week-to-week decline can be tied to seasonal maintenance.

Iowa State University says returns for the average Iowa plant remained firmly in positive territory.

The Renewable Fuels Association says demand signals were friendly as the industry prepares for summer driving season. Net inputs by refiners and blenders were 1.9% higher and the volume of gasoline supplied to the market jumped 11.6%, the biggest weekly increase in more than 20 years for the greatest demand since December 2021.

Stocks were a 14-week low at 24.306 million barrels, 987,000 under the previous week, but 341,000 above this time last year.

The RFA says there have been no reported ethanol imports in 20 weeks.

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

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