News

Weekly ethanol production holds near recent highs

U.S. ethanol production backed off a little last week but stayed near the 2018 highs.

The U.S. Energy Information Administration says production averaged 1.067 million barrels a day, down 5,000 on the week, but still the third highest weekly average this year. Corn demand for ethanol use remains on pace to meet or exceed USDA projections for the current marketing year, which runs through the end of August.

Stocks climbed 301,000 barrels to 21.975 million.

The USDA’s next set of supply and demand estimates is out July 12th.