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Ethanol production, stocks gain on week

U.S. ethanol production and supplies moved higher last week.

The U.S. Energy Information Administration says production averaged 1.067 million barrels a day, up 33,000 on the week and 230,000 on the year, as the industry continues to bounce back from slower demand caused by the COVID-19 pandemic.

The Renewable Fuels Association says net inputs by refiners and blenders were modestly lower and gasoline demand hit a twelve-week low, but both remained well above year ago levels.

Ethanol stocks hit a five-week high at 19.96 million barrels, an increase of 372,000 from the previous week, but a decrease of 1.842 million from this time last year.

The USDA says Midwest ethanol prices were higher last week.

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