News

Ethanol production bounces, stocks drop

U.S. ethanol production rose slightly last week, while stocks backed off from the recent record high.

The U.S. Energy Information Administration says production averaged 1.040 million barrels a week, up 9,000 from the week before, but down sharply from a year ago as the industry continues to be concerned about margins and demand, while waiting for an EPA decision on small refinery waivers. Stocks dropped 1.351 million barrels to 23.117 million, with the biggest decline in the Gulf Coast, the main export region.

The Renewable Fuels Association says blending demand was down 1.5% on the week.

The USDA’s next corn for ethanol use estimate is out Monday, August 12th.