News

Ethanol production falls to three month low

U.S. ethanol production hit a 12-week low last week.

The U.S. Energy Information Administration says production averaged 1.049 million barrels a day, down 31,000 on the week, partially due to seasonal maintenance, but up 69,000 on the year.

Iowa State University’s Center for Agricultural and Rural Development says operating margins at the average Iowa plant tightened, while remaining in positive territory.

Ethanol stocks were reported at a seven-week high of 23.785 million barrels, an increase of 71,000 from the previous week and 2.104 million from a year ago.

The Renewable Fuels Association says net inputs of ethanol purchased by refiners and blenders and the volume of gasoline supplied to the market were both above the prior week.

Ethanol exports averaged 151,000 barrels a day, a drop of 26,000 from the week before but 42,000 above a year ago.

The USDA expects 5.45 billion bushels of corn to be used for ethanol production this marketing year, with the next guess out October 11^th.