Ethanol production up for third straight week

Ethanol production moved higher last week, the third in a row with a gain.

The U.S. Energy Information Administration says ethanol production averaged 663,000 barrels a day, up 46,000 on the week, but 408,000 on the year as the industry continues to reel from slower blending demand caused by COVID-19 related social distancing and stay at home orders.

Stocks declined 564,000 barrels to 23.626 million, the tightest supply since January and only 232,000 barrels above a year ago.

The USDA’s next corn for ethanol use estimate is out June 11th.

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