U.S. ethanol stocks grow, production up
U.S. ethanol production and stocks both climbed higher last week.
The U.S. Energy Information Administration says the domestic supply hit a 48-week high at 23.592 million barrels, an increase of 681,000 on the week, but a decrease of 100,000 on the year.
The Renewable Fuels Association says net inputs by refiners and blenders and the volume of gasoline supplied to the market were both above week ago and year ago levels.
Production averaged 1.053 million barrels a day, 47,000 above the previous week and 112,000 more than last time last year.
Iowa State University’s Center for Agricultural and Rural Development says margins remain well below the 2021 peak, but are still in positive territory.
The USDA says Midwest ethanol prices moved lower last week.
The USDA’s next corn for ethanol use estimate is out February 9th.