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Ethanol production creeps higher, stocks rise
U.S. ethanol production was up modestly over the past week.
The U.S. Energy Information Administration says production averaged 1.099 million barrels per day, up 4,000 on the week as plants try to meet expected demand and 281,000 on the year, when production was restricted by a burst of winter weather in the Midwest.
Ethanol stocks hit a 40-week high at 25.874 million barrels, rising 866,000 from the previous week, partially due to this year’s winter weather impacting demand, and 59,000 above this time last year.
The Renewable Fuels Association says net inputs of ethanol purchased by refiners and blenders was 0.1% lower, while the volume of gasoline supplied to the market declined 2.9%, also because of weather.
Ethanol exports averaged 169,000 barrels per day, an increase of 44,000 from the week before and 48,000 from a year ago.
The USDA’s next corn for ethanol use projection is out February 11th.
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