News

Ethanol production rebounds

U.S. ethanol production bounced back last week.

The U.S. Energy Information Administration says production 1.105 million barrels per day, rising 43,000 on the week and 59,000 on the year.

That increase in production can be tied to better returns.

Iowa State University’s Center for Agricultural and Rural Development says estimated operating margins for the average Iowa plant improved slightly as input costs dipped.

Ethanol stocks of 26.575 million barrels were 801,000 below the previous week, but 566,000 above a year ago.

The Renewable Fuels Association says net inputs of ethanol purchased by refiners and blenders hit a multi-month high, while the volume of gasoline supplied to consumers declined.

Ethanol exports averaged 111,000 barrels per day, falling 51,000 from the prior week and 23,000 from this time last year.

The USDA’s updated corn for ethanol use projection is out April 10^th.