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Ethanol production up as supply dips
U.S. ethanol production climbed higher over the past week.
The U.S. Energy Information Administration says production averaged 1.081 million barrels per day, up 39,000 on the week and 41,000 on the year.
Iowa State University’s Center for Agricultural and Rural Development says estimated operating margins for the average Iowa plant improved a little, continuing to hold in positive territory.
Ethanol stocks of 22.223 million barrels were 52,000 less than the previous week, but 877,000 more than 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 above the week before.
Ethanol exports averaged 106,000 barrels per day, a decline of 34,000 from the prior week and 6,000 from last year.
The USDA’s updated corn for ethanol use projection is out November 8th.
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