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Ethanol production up on the week, stocks down
There were modest changes for U.S. ethanol production and supply over the past week.
The U.S. Energy Information Administration says ethanol production averaged 1.04 million barrels per day, up 7,000 on the week and 53,000 on the year.
Seasonal maintenance has ended for some producers and Iowa State University’s Center for Agricultural and Rural Development says operating margins for the average Iowa plant were in positive territory.
Ethanol stocks of 25.389 million barrels were a 15-week low, down 92,000 from the previous week and 99,000 from 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 both declined from the week before.
Ethanol exports averaged 141,000 barrels a day, an increase of 66,000 from the week before and 63,000 from this time last year.
The USDA’s updated corn for ethanol use guess is out May 15th.
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