News

Ethanol production rises as domestic supply dips

U.S. ethanol production had a week-to-week increase.

The U.S. Energy Information Administration says production averaged 1.036 million barrels per day, rising 43,000 from the previous as some plants wrapped up seasonal maintenance and moving 17,000 above a year ago.

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

Demand signals were mixed.

Ethanol stocks of 24.944 million barrels were down 501,000 on the week, hitting their lowest level since January, but that was still up 732,000 on the year.

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

Ethanol exports averaged 94,000 barrels a day, 20,000 less than the week before, but 11,000 more than last year.

The USDA’s updated corn for ethanol use guess is out June 12^th.