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U.S. ethanol production pulls back from record levels as margins narrow

U.S. ethanol production backed off from the prior week’s all-time high.

The U.S. Energy Information Administration says production averaged 1.075 million barrels per day, a decline of 48,000 on the week and 38,000 on the year.

Iowa State University’s Center for Agricultural and Rural Development says the estimated operating margin for the average Iowa plant did dip, still just barely holding in positive territory and staying above this time last year.

Ethanol stocks of 22.219 million barrels were 436,000 less than the previous week, but 180,000 more than a year ago.

The Renewable Fuels Association says net inputs of ethanol purchased by refiners and blenders hit a five-week low, even as the volume of gasoline supplied to the market moved to a ten-week high.

Export exports averaged 157,000 barrels per day, rising 50,000 from the week before and 13,000 from last year.