Ethanol production bounces off recent lows

U.S. ethanol production climbed higher last week.

The U.S. Energy Information Administration says production averaged 889,000 barrels a day, up 34,000 from the previous week’s more than 18-month low. But that is down 89,000 on the year with some plants remaining idle for maintenance or cutting back production due to uncertainties about sustained demand.

The Renewable Fuels Association says net inputs by refiners and blenders were below a week ago and a year ago, while the volume of gasoline supplied to the market soared to a 40-week high and was fractionally above last year’s levels.

Ethanol stocks were the tightest they’ve been all year at 21.685 million barrels, a decrease of 1.006 million on the week, but an increase of 1.754 million on the year.

The USDA’s next corn for ethanol use estimate is out October 12th.

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