News

Ethanol production dips, exports highest on record

U.S. ethanol production declined last week.

The U.S. Energy Information Administration says production averaged 1.067 million barrels a day, down 42,000 from the previous week’s all-time high, but up 44,000 from a year ago.

Iowa State University’s Center for Agricultural and Rural Development says estimated operating margins for the average Iowa plant remain in the red, implying a profit and encouraging production.

Ethanol stocks of 23.767 million barrels were a decrease of 206,000 on the week, but an increase of 887,000 on the year.

The Renewable Fuels Association says other demand signals were also mixed, as net inputs of ethanol purchased by refiners and blenders improved slightly, up 0.8%, to a six-week high, while the volume of gasoline supplied to the market fell 3.1%.

Ethanol exports averaged 210,000 barrels a day, the highest weekly average on record, surging 152,000 from the week before and 141,000 from last year.

Corn for ethanol use remains on pace on meet USDA projections for the current marketing year, with an updated guess out Monday, August 12^th.