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Ethanol production, stocks up on week
U.S. ethanol production and stocks both moved higher last week.
The U.S. Energy Information Administration says production averaged 1.034 million barrels a day, up 23,000 on the week and 269,000 on the year as demand concerns during the early stages of the pandemic limited production.
The supply of 19.588 million barrels was 608,000 higher than the previous week’s more than four-year low but 2.888 million below this time last year.
The Renewable Fuels Association says net inputs by refiners and blenders increased from the prior week, but the volume of gasoline supplied to the market decreased, despite preparations for Memorial Day weekend and the summer driving season. Both inputs and the volume of gasoline were above year ago levels.
The USDA says Midwest ethanol prices were lower last week.
The USDA’s next corn for ethanol use estimate is out June 10th.
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