Ethanol production, supply up on week
U.S. ethanol production shot higher last week.
The U.S. Energy Information Administration says production averaged 1.041 million barrels a day, up 30,000 on the week as some producers resume full operations after a brief slowdown, but down 38,000 on the year with some questions about demand due to relatively high gasoline prices.
The industry is also concerned about a potential railroad strike, which would have a big impact on movement.
Iowa State University’s Center for Agricultural and Rural Development says projected margins for Iowa producers dipped slightly, but remained in positive territory.
The Renewable Fuels Association says net inputs by refiners and blenders were 0.8% lower than last week while the volume of gasoline supplied to the market 4.7%.
Ethanol stocks surged to 22.829 million barrels, a ten-week high, 1.531 million above the prior week and 2.665 million more than a year ago.
The USDA’s next corn for ethanol use estimate is out December 9th.