News

Ethanol production down, but supplies rise

U.S. ethanol production last week hit a multi-month low, while stocks climbed to a multi-month high.

The U.S. Energy Information Administration says production averaged 1.015 million barrels a day last week, down 21,000 from the week before on concerns about margins and demand. That’s the third week in a row with a decline and the lowest weekly average since mid-April.

Stocks jumped 816,000 barrels to 23.445 million, the biggest supply since mid-March.

The USDA’s next corn for ethanol use projection is out October 11th.