News

Ethanol production, stocks lowest since January

U.S. ethanol production declined for the second week in a row.

The U.S. Energy Information Administration says ethanol production was the lowest since the end of January at 1.007 million barrels per day, down 21,000 on the week due to seasonal maintenance as the industry awaits more new crop corn, but up 12,000 on the year thanks to demand expectations, supporting a key sector of domestic corn use.

The weekly demand numbers were generally positive.

The Renewable Fuels Association says ethanol stocks of 23.865 million barrels were an eight-month low, falling 818,000 from the previous week, but that’s still 1.101 million above a year ago due to production increases.

Net inputs of ethanol purchased by refiners and blenders were a four-week high, even as the volume of gasoline supplied to the market moved lower.

Ethanol exports averaged 142,000 barrels per day, 20,000 more than the prior week and 54,000 larger than last year.

The USDA’s next corn for ethanol use projection is out October 9^th.