News

Weekly ethanol production up, stocks down

 

U.S. ethanol production climbed last week and stocks declined.

The U.S. Energy Information Administration reports production averaged 1.068 million barrels a day, up 52,000 on the week as the industry continues to respond to demand expectations and get ready for summer fuel blends. Corn futures have firmed, but so have cash dried distiller’s grains, helping many plants maintain margins. Corn for ethanol use remains ahead of the pace needed to meet USDA projections for the 2017/18 marketing year, which runs through August. The next set of supply and demand numbers is out March 8th.

Stocks came out at 22.753 million barrels, down 132,000 on the week, but up 83,000 on the year.