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Winter Storm Fern sends ethanol production to multi-year low
U.S. ethanol production plunged last week as the Midwest was hit hard by Winter Storm Fern.
The U.S. Energy Information Administration says production averaged 956,000 barrels per day, the lowest since mid-April 2024, a drop of 158,000 on the week and 156,000 on the year.
Iowa State University’s Center for Agricultural and Rural Development did show a slight rise in the estimated operating margin for the average Iowa plant.
The Renewable Fuels Association says net inputs of ethanol purchased by refiners and blenders, and the volume of gasoline supplied to the market also saw big week-to-week declines due to the weather.
Stocks of 25.136 million barrels were 264,000 below the previous week and 1.276 million under a year ago.
Ethanol exports averaged 216,000 barrels per day, the third highest on record, rising 59,000 from the week before and 110,000 from last year.
The USDA’s updated corn for ethanol use projection is out February 10th.
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