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Ethanol production down, stocks contract

U.S. ethanol production declined last week as the domestic supply tightened.

The U.S. Energy Information Administration says production last week averaged 1.003 million barrels a day, down 26,000 on the week with winter weather having an impact on some plant schedules and grain movement. That is up 6,000 barrels on the year with operating margins for the average Iowa plant just above a year ago.

Iowa State University’s Center for Agricultural and Rural Development says margins firmed up little last week, coming back to roughly the cost of production.

The Renewable Fuels Association says net inputs by ethanol refiners and blenders and the volume of gasoline supplied to consumers were both about 2% higher than the previous week.

The domestic ethanol supply hit a three week low at 24.775 million barrels, a decrease of 813,000 from the week before and 218,000 from late February 2022.

The USDA’s next corn for ethanol use estimate is out March 8th.

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