News

Ethanol production, stocks rise

U.S. ethanol production and stocks moved higher last week.

The U.S. Energy Information Administration says production averaged 1.105 million barrels per day, an increase of 23,000 on the week and 63,000 on the year.

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

Ethanol stocks rose 249,000 barrels from the previous week to 22.02 million barrels, which was 1.031 million above 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 were both below the prior week.

Ethanol exports averaged 109,000 barrels per day, rising 49,000 from the week before and 17,000 from last year.

The USDA expects 5.45 billion bushels of corn to be used for ethanol production this marketing year.