Ethanol production, stocks see week-to-week increases
U.S. ethanol production roared back last week as stocks grew.
The U.S. Energy Information Administration says production averaged one million, thirty-six thousand barrels a day, up 32,000 on the week and the highest average since December 2022, but down 3,000 on the year. That week-to-week increase comes as plants finish seasonal maintenance while preparing for summer driving season and greater availability of E15.
Iowa State University’s Center for Agricultural and Rural Development says margins for the average Iowa plant were just about steady, staying firmly in positive territory.
The Renewable Fuels Association says net inputs by refiners and blenders fell 4.2%, but the volume of gasoline supplied to the market was 1.3% higher.
Ethanol stocks swelled for the second week in a row to 22.948 million barrels, 616,000 more than the previous week, but 688,000 less than a year ago.
Ethanol exports averaged 97,000 barrels a day, 43,000 above the week before.
The USDA’s next corn for ethanol use estimate is out Friday, June 9th at Noon Eastern/11 Central.