News
Demand pulls U.S. ethanol stocks to multi-month lows
U.S. ethanol stocks moved to multi-month lows last week thanks to solid demand.
The U.S. Energy Information Administration says the domestic supply 24.87 million barrels was the tightest since last October, falling 1.15 million on the week and 575,000 on the year.
Net inputs of ethanol purchased by refiners and blenders were up fractionally, while the volume of gasoline supplied to the market dipped to a five-week low.
The Renewable Fuels Association says ethanol exports averaged 162,000 barrels a day, an increase of 23,000 from the previous week and 48,000 from a year ago.
Ethanol production averaged 1.082 million barrels per day, 65,000 higher than the previous week as some plants ended seasonal maintenance, and 89,000 above a year ago as those producers try to meet projected demand.
The USDA expects 5.6 billion bushels of corn to be used for ethanol production both this and next marketing year, with an updated guess out June 11th.
Add Comment