News

Historically strong week for ethanol production

U.S. ethanol production and stocks both notched notable milestones last week.

The U.S. Energy Information Administration says production averaged a record 1.120 million barrels per day, rising 15,000 on the week and 97,000 on the year.

Iowa State University’s Center for Agricultural and Rural Development says estimated operating margins for the average Iowa plant improved, reflecting a profit for many producers.

Demand signals were generally positive.

Ethanol stocks dipped to their lowest level for the year at 23.734 million barrels, down 706,000 from the previous week, but still up 512,000 from a year ago.

The Renewable Fuels Association says net inputs of ethanol purchased by refiners and blenders and the volume of gasoline supplied to the market were both higher than the week before.

Ethanol exports averaged 151,000 barrels per day, 1,000 above the prior week and 26,000 more than last year.

Corn for ethanol use remains on pace to meet or exceed USDA projections for the current marketing year, which runs through the end of August.