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U.S. ethanol production, supply up on week
U.S. ethanol production and stocks both climbed higher last week.
The U.S. Energy Information Administration says production averaged 1.033 million barrels a day, up 42,000 on the week and 33,000 on the year.
Iowa State University’s Center for Agricultural and Rural Development says estimated operating margins for the average Iowa plant were up a little, moving back to the breakeven point.
The Renewable Fuels Association says net inputs of ethanol purchased by refiners and blenders and the volume of gasoline supplied to the market both hit six-week highs.
Ethanol stocks were reported at 24.779 million gallons, an increase of 509,000 from the previous week and 362,000 from a year ago.
Ethanol exports averaged 78,000 barrels a day, a drop of 59,000 from the week before.
The USDA’s next corn for ethanol use projection is out Thursday, February 7th at Noon Eastern/11 Central.
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