News

Historic low for ethanol production

Declining blending demand because of COVID-19 related stay at home orders and social distancing restrictions pushed ethanol production to a record low last week and pulled stocks to an all-time high.

The U.S. Energy Information Administration says last week’s production averaged 672,000 barrels a day, a week to week drop of 168,000 barrels or 20%, the lowest since the EIA started keeping records in 2010.

Stocks jumped 5.3% or 1.374 million barrels to 27.091 million barrels, the second week in a row with a record large supply.

The USDA’s next corn for ethanol use estimate is out Thursday.