News
Ethanol production, demand signals mixed on week, year
U.S. ethanol production numbers were mixed.
The U.S. Energy Information Administration says production averaged 1.09 million barrels per day, 12,000 less than the previous week due to a dip in price, but 9,000 more than a year ago thanks to better overall returns and demand expectations.
Demand signals were mixed.
The Renewable Fuels Association says ethanol stocks of 24.585 million barrels were up 111,000 on the week and 181,000 on the year, including a build in the Gulf, which typically means a rise in export demand.
Ethanol exports averaged 121,000 barrels per day, 5,000 lower than the week before, but 11,000 higher than last year.
Net inputs of ethanol purchased by refiners and blenders hit a four-week high, even as the volume of gasoline supplied to the market fell 4.7%.
The USDA’s updated corn for ethanol use guess is out July 10th.
Add Comment