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Ethanol production, stocks rise
Ethanol production surged to multi-month highs last week.
The U.S. Energy Information Administration says production averaged 1.07 million barrels a day, the highest since early December, up 38,000 on the week and 36,000 on the year.
Iowa State University’s Center for Agricultural and Rural Development says operating margins at the average Iowa plant improved, stimulating production as the industry tries to meet the demands of the summer driving season.
The Renewable Fuels Association says net inputs by refiners and blenders and the volume of gasoline supplied to the market were both modestly higher.
Ethanol stocks notched a nine-week high at 23.166 million barrels, an increase of 508,000 from the previous week, but 387,000 below a year ago.
Ethanol exports of 86,000 barrels a day were 35,000 above the week before.
The USDA’s next corn for ethanol use estimate is out August 11th.
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