News

Ethanol stocks move to multi-week highs, production nearly steady

U.S. ethanol stocks swelled over the past week.

The U.S. Energy Information Administration says the domestic supply was the largest in almost a month at 24.968 million barrels, rising 93,000 on the week and 687,000 on the year.

The year-over-year gain is linked to a generally faster rate of production.

Ethanol production averaged 1.089 million barrels per day, 22,000 lower than the previous week, but 33,000 higher than a year ago.

The Iowa State University Center for Agricultural and Rural Development says the estimated operating margin for the average Iowa plant continues to show a positive return.

Net inputs of ethanol purchased by refiners and blenders hit a one-year high, and the volume of gasoline supplied to the market was a 48-week top.

Ethanol exports averaged 102,000 barrels per day, a decrease of 47,000 from the week before, but an increase of 36,000 from last year.

The USDA’s updated corn for ethanol use projection is out June 11^th.