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U.S. ethanol production up, stocks down

U.S. ethanol production moved higher last week, while the domestic supply got tighter.

The U.S. Energy Information Administration says production averaged 975,000 barrels a day, up 10,000 on the week and 303,000 on the year, one of the first weeks blending demand concerns connected to COVID-19 impacted the industry. Last week’s average was 27,000 barrels below the week ending April 5th, 2019.

The Renewable Fuels Association says net inputs by refiners and blenders and the volume of gasoline supplied to consumers were below the previous week, but above this time last year.

Ethanol stocks of 20.642 million barrels were the lowest since mid-November 2020, falling 472,000 barrels from the week before and 6.449 million barrels from a year ago.

The USDA says Midwest cash corn and ethanol prices were higher last week.

The USDA’s next corn for ethanol use estimate is out Friday at Noon Eastern/11 Central.

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