News

U.S. ethanol stocks expand

The U.S. ethanol supply remains near multi-year highs.

The U.S. Energy Information Administration says domestic stocks of 27.376 million barrels were up 87,000 on the week and 1.594 million on the year, holding very close to the recent almost five-year high because of slower demand.

The Renewable Fuels Association says net inputs of ethanol purchased by refiners and blenders dipped over the past week, even as the volume of gasoline supplied to the market roared a 17-week high.

Production fell to a six-week low at an average of 1.062 million barrels per day, a decrease of 31,000 from the previous week, but an increase of 38,000 from this time last year.

Iowa State University’s Center for Agricultural and Rural Development says estimated operating margins for the average Iowa plant are near the breakeven level and below a year ago.

Ethanol exports averaged 162,000 barrels per day, rising 39,000 from the prior week and 38,000 from last year.

The USDA expects 5.5 billion bushels of corn to be used for ethanol production this marketing year, with the next guess out April 10^th.