Ethanol production up as stocks tighten a little
U.S. ethanol production was up slightly last week as stocks stayed nearly unchanged.
The U.S. Energy Information Administration says production averaged 1.047 million barrels a day, up 5,000 from the previous week, which was delayed by EIA systems upgrades, and 36,000 more than a year ago.
Iowa State University’s Center for Agricultural and Rural Development says operating margins for the average Iowa plant are below the 2023 highs, but remain firmly in positive territory.
The Renewable Fuels Association says net inputs by refiners and blenders were higher, while the volume of gasoline supplied to the market was lower, with both holding above last year.
Stocks of 20.954 million barrels were down 35,000 on the week and 344,000 on the year.
Ethanol exports averaged 85,000 barrels a day, a decline of 7,000 from the week before.
The USDA’s next corn for ethanol use estimate is scheduled for December 8th.