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Weekly ethanol production dips, still robust

 

U.S. ethanol production last week declined for the second week in a row, but remained at historically high levels.

The U.S. Energy Information Administration says the average for the week ending December 15th was 1.077 million barrels per day, down 12,000 on the week, but still the third highest weekly average on record. The all-time high of 1.108 million barrels was set on the week ending December 1st and the second highest on record, 1.089 million barrels, was set the following week.

Corn is readily available and a recent firmer price trend was tightened margins, the industry expects continued good demand.

Stocks were down 54,000 barrels on the week at 22.320 million.

Next week’s report will be delayed until Thursday, with government offices closed Monday for Christmas.