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Ethanol production, stocks up slightly on week

U.S. ethanol production and the domestic supply were both modestly higher.

The U.S. Energy Information Administration says production averaged 1.046 million barrels a day, up 22,000 on the week and 49,000 on the year, staying ahead of the USDA’s expected pace for the current marketing year.

That week to week gain followed an improvement in margins, with Iowa State University’s Center for Agricultural and Rural Development estimating a better return for the average Iowa plant.

The Renewable Fuels Association say the domestic supply of 26.009 million barrels was 227,000 above last week, but 179,000 below last year.

Net ethanol inputs purchased by refiners and blenders firmed up a little, while the volume of gasoline supplied to the market declined more than 2%.

Ethanol exports averaged 134,000 barrels a day, an increase of 10,000 from the week before.

There have been no reported U.S. ethanol imports in six months.

The USDA’s updated corn for ethanol use guess is out April 11th.

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