Ethanol production, supply move higher
U.S. ethanol production was higher last week as stocks saw a modest increase.
The U.S. Energy Information Administration says production averaged 1.079 million barrels a day, up 19,000 on the week and 89,000 on the year.
Iowa State University’s Center for Agricultural and Rural Development says ethanol margins gained again last week and the USDA says Midwest cash ethanol prices were mostly higher.
The Renewable Fuels Association says the volume of gasoline supplied to the market was up modestly, but net inputs for refiners and blenders were down slightly, while both remained above year ago levels.
Ethanol stocks of 20.164 million barrels were 83,000 more than the previous week but 702,000 less than this time last year.
The USDA’s next corn for ethanol use projection is out December 9th.