U.S. ethanol production climbs

U.S. ethanol production last week hit a multi-month high.

The U.S. Energy Information Administration says production averaged 1.069 million barrels a day, up 21,000 on the week for the highest daily average since late August. The EPA last week maintained the conventional portion of the Renewable Fuel Standard, but some in the ethanol industry criticized the agency for not addressing small refinery hardship waivers, which have been used to skirt RFS requirements. Recent trade discussions with China, Canada, and Mexico are expected to lead to improvements in export demand for U.S. ethanol.

Stocks were up 100,000 barrels on the week at 23.030 million barrels.

The USDA expects record corn use for ethanol demand this marketing year.

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