Ethanol production up slightly as supply tightens

U.S. ethanol production moved a little bit higher last week while stocks were tighter.

The U.S. Energy Information Administration says production averaged 1.084 million barrels a day, up 1,000 on the week and 55,000 on the year.

Iowa State University’s Center for Agricultural and Rural Development says estimated operating margins for the average Iowa were in slightly positive territory, implying a modest profit.

Ethanol stocks came out at 25.502 million barrels, a decrease of 308,000 from the previous week and 86,000 from mid-February 2023.

Net inputs of ethanol purchased by refiners and blenders dipped, while the volume of gasoline supplied to the market was higher.

Ethanol exports averaged 170,000 barrels a day, an improvement of 63,000 from the week before.

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

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