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Ethanol production rises as winter weather fades

U.S. ethanol production shot higher last week as winter weather eased, allowing full schedules to resume.

The U.S. Energy Information Administration says production averaged 1.11 million barrels per day, up 154,000 on the week and 28,000 on the year.

Iowa State University’s Center for Agricultural and Rural development says the estimated operating margin for the average Iowa plant did see a week-to-week decline while holding in positive territory.

Ethanol stocks of 25.247 million barrels were 111,000 more than the previous week but 445,000 less than 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 both moved higher.

Ethanol exports averaged 137,000 barrels per day, falling 79,000 from the week before and 13,000 from last year.

The USDA’s expect 5.6 billion bushels of corn to be used for ethanol production this marketing year, with the next guess out March 10^th.