Ethanol production, stocks fall from prior week
U.S. ethanol production and stocks both saw significant week-to-week declines.
The U.S. Energy Information Administration says production averaged 1.007 million barrels a day, down 41,000 on the week, but up 37,000 on the year.
Iowa State University’s Center for Agricultural and Rural Development says operating margins for the average Iowa plant got a little tighter while remaining in positive territory and more profitable than a year ago.
Ethanol stocks hit a 41-week low at 21.609 million barrels, a drop of 1.181 million barrels from the prior week and 1.924 million barrels from late August 2022.
Net inputs by refiners and blenders and the volume of gasoline supplied to the market were both above last week and last year.
Ethanol exports averaged 69,000 barrels a day, 25,000 under the week before.
The USDA’s updated corn for ethanol use projection is out September 12th.