News

Ethanol production, stocks, exports top year ago levels

U.S. ethanol production backed off a little bit last week.

The U.S. Energy Information Administration says production averaged 1.107 million barrels per day, down 26,000 from the previous week, which was the second highest weekly average on record. That was still up 26,000 from a year ago as the industry tries to meet domestic and export demand, with solid margins and consistent corn use by the industry.

Ethanol stocks of 24.524 million barrels were 202,000 less than the week before, but 768,000 more than last 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 saw fractional week-to-week declines.

Ethanol exports were a four-week high, averaging 200,000 barrels per day, an increase of 63,000 on the week and 84,000 on the year.

The USDA’s updated corn for ethanol use projection is out Wednesday, August 12th at Noon Eastern/11 Central.