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Weekly ethanol numbers mixed
U.S. ethanol production trickled slightly lower for the second consecutive week.
The U.S. Energy Information Administration says production averaged 1.095 million barrels per day, down 7,000 on the week, but up 41,000 on the year.
Iowa State University’s Center for Agricultural and Rural Development says estimated operating margins for the average Iowa plant did improve a little bit but remain under a year ago.
Ethanol stocks hit a nine-month high at 25.008 million barrels, 860,000 above the week before, but 687,000 below this time last year.
The Renewable Fuels Association says net inputs of ethanol purchased by refiners and blenders bounced off the previous week’s two-year low, while the volume of gasoline supplied to the market declined.
Ethanol exports averaged 125,000 barrels per day, 30,000 more than the prior week, but 30,000 less than a year ago.
The USDA expects 5.5 billion bushels of corn to be used for ethanol production this marketing year, with the next guess out February 11th.
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