U.S. ethanol production, supply down on week
U.S. ethanol production and stocks fell last week.
The U.S. Energy Information Administration says production averaged 947,000 barrels a day, the fourth week in a row with a decline and down 48,000 on the week, but up 7,000 on the year.
Iowa State University’s Center for Agricultural and Rural Development says ethanol margins moved back into positive territory, but two key demand indicators fell.
The Renewable Fuels Association says net inputs by refiners and blenders were 0.1% lower, while the volume of gasoline supplied to the market was down 1.5%.
Ethanol stocks hit a 13-week low of 24.342 million barrels, a decrease of 371,000 from the previous week, but an increase of 3.985 million barrels from this time last year.
The USDA’s next corn for ethanol use estimate is out May 12th.