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Ethanol production, stocks up on week
U.S. ethanol production moved slightly higher last week and the domestic supply grew for the first time since mid-March.
The U.S. Energy Information Administration says production averaged 952,000 barrels a day, up 7,000 on the week and 354,000 on the year during the early stages of the pandemic, but that is down 84,000 barrels from this point in 2019.
The Renewable Fuels Association says net inputs by refiners and blenders were fractionally higher than the previous week and the volume of gasoline supplied to the market was fractionally lower, with both above year ago levels and below 2019.
Ethanol stocks expanded for the first time in seven weeks, gaining 704,000 barrels to 20.44 million, which is 5.172 million barrels under last year and 2.028 million less than this stage of 2019.
The USDA says Midwestern ethanol prices were higher last week.
The USDA’s next corn for ethanol use is out on Wednesday, May 12th at Noon Eastern/11 Central.
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