News
Ethanol stocks decline as refiners cut inputs and exports slow
The domestic ethanol supply fell to a multi-week low.
The U.S. Energy Information Administration says stocks of 21.968 million barrels were the tightest since mid-October, down 339,000 on the week and 901,000 on the year, despite generally unfriendly demand signals.
The Renewable Fuels Association says net inputs of ethanol purchased by refiners and blenders dropped to an 11-week low, even as the volume of gasoline supplied to the market moved higher.
Ethanol exports averaged 122,000 barrels per day, a decline of 23,000 from the week before and 36,000 from a year ago.
Corn for ethanol use demand remains solid.
Ethanol production was one of the highest on record, averaging 1.113 million barrels per day, 22,000 larger than the previous week, but 6,000 below last year.
The USDA’s updated corn for ethanol use estimate is out December 9th.
Add Comment