Ethanol stocks gain again

Ethanol stocks have swelled for three weeks in a row.

The U.S. Energy Information Administration says ethanol stocks moved to a two-year high last week, hitting 26.416 million barrels, 324,000 above the week before and 1.28 million more than a year ago.

That rise in supply followed a increase in production, which averaged 1.073 million barrels a day, up 19,000 on the week and 70,000 on the year.

Iowa State University’s Center for Agricultural and Rural Development says operating margins for the average Iowa plant firmed up a little, reflecting a modest return.

The Renewable Fuels Association says net inputs of ethanol purchased by refiners and blenders jumped its largest volume this year, while the volume of gasoline supplied to the market was at a 21-week high.

Ethanol exports averaged 71,000 barrels a day, a drop of 13,000 from the previous week.

The USDA’s updated corn for ethanol use projection is out Thursday, April 11th at Noon Eastern/11 Central.

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