Ethanol production, supply above a week ago

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

The U.S. Energy Information Administration says production averaged 1.029 million barrels a day, the highest average since mid-December of 2022, up 15,000 barrels on the week and 5,000 on the year.

That’s partially due to expectations for improved consumer demand as parts of the U.S. get closer to emerging from winter.

The Renewable Fuels Association says the domestic supply hit a 46-week high at 25.6 million barrels, an increase of 249,000 from the previous week and 81,000 from a year ago.

Net ethanol inputs by refiners and blenders fell 2.3%, while the volume of gasoline supplied to the market rose 7.7% to an eight-week high.

Iowa State University’s Center for Agricultural and Rural Development says returns for the average Iowa ethanol plant remain in negative territory but are holding above the lows for the year.

The USDA’s next corn for ethanol use projection is out March 8th.

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