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Ethanol production, supply rise on week
U.S. ethanol production moved higher last week, the fourth week in a row with a gain.
The U.S. Energy Information Administration says production averaged 1.033 million barrels a day, up 17,000 on the week for the highest average since late July, supported by good domestic demand and positive margins for most producers.
However, that average was down 73,000 barrels on the year with industry uncertainties about gasoline prices and a possible railroad strike which would impact movement keeping a cap on production.
U.S. ethanol supplies were reported at 22.291 million gallons, an increase of 447,000 from the previous week and 2.366 million from a year ago.
The Renewable Fuels Association says net inputs by ethanol refiners and blenders and the volume of gasoline supplied to the market both saw week-to-week improvements.
The USDA’s next corn for ethanol use estimate is out November 9th.
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