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Ethanol production down on week

 

Downtime for Christmas and weather appear to have influenced ethanol production last week.

The U.S. Energy Information Administration says that for the week ending December 29th, 2017, production averaged 1.032 million barrels per day, down 58,000 from the previous week, but still above a million barrels a day for the 12th week in a row. According to EIA data, ethanol production averaged more than a million barrels a day 44 weeks out of the year. Corn is readily available, prices have been relatively stable, and the industry does expect good demand.

Stocks did build last week, jumping 588,000 barrels to 22.619 million.

The USDA’s next corn for ethanol use estimate is out on the 12th.