Ethanol production modestly lower, stocks grow

U.S. ethanol production declined slightly last week.

The U.S. Energy Information Administration says production averaged 1.074 million barrels a day, down 2,000 on the week, but up 13,000 on the year.

Iowa State University’s Center for Agricultural and Rural Development says operating margins for the average Iowa plant slipped a little bit, while remaining in positive territory and above a year ago.

Net inputs of ethanol purchased by refiners and blenders and the volume of gasoline supplied to the consumer market both showed week-to-week improvements.

Ethanol stocks of 22.1 million gallons were the largest since mid-August, an increase of 661,000 from the week before, but a decrease of 2.309 million from this time last year.

Ethanol exports averaged 124,000 barrels a day, a jump of 67,000 from the previous week.

The USDA’s next corn for ethanol use projection is out January 12th, 2024.

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