News

Ethanol production, stocks, exports climb higher

U.S. ethanol production has increased for the third week in a row as producers wrap up seasonal maintenance.

The U.S. Energy Information Administration says production averaged 1.105 million barrels per day, up 49,000 on the week and 33,000 on the year.

That week-to-week rise came with tighter, but still positive, margins for some producers and ongoing preparations for the summer driving season.

The weekly demand signals were mixed, mostly unfriendly.

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.

Ethanol stocks of 24.44 million barrels were 159,000 higher than the previous week and 1.388 million above a year ago.

Ethanol exports did average 150,000 barrels per day, rising 84,000 from the week before and 27,000 from this time last year.

The USDA expects 5.5 billion bushels of corn to be used for ethanol production this marketing year, with the next guess out June 12^th.