News

Ethanol production up on week

U.S. ethanol production rebounded strongly last week. The U.S. Energy Information Administration says production averaged 1.029 million barrels a day, jumping 62,000 barrels from the previous week’s more than one-year low. Corn for ethanol use was less than what’s needed weekly to meet USDA projections for the current marketing year.

The industry is monitoring margins, while waiting for details on year-round E15 implementation and any potential policy changes from the EPA.

Stocks were down for the second week in a row, declining 481,000 barrels to 23.466 million.