Ethanol production, stocks above a week ago
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Ethanol production, stocks above a week ago
U.S. ethanol production improved slightly last week and stocks grew.
The U.S. Energy Information Administration says production averaged 1.084 million barrels per day, up 2,000 on the week and unchanged on the year.
Iowa State University’s Center for Agricultural and Rural Development says operating margins for the average Iowa plant are in negative territory, which would normally discourage production, but the industry continues to expect solid domestic and export demand.
Ethanol stocks of 26.218 million barrels were 526,000 above the previous week and 716,000 more than a year ago.
The Renewable Fuels Association says net inputs of ethanol purchased by refiners and blenders and the volume of gasoline supplied to the market were both below the week before.
Ethanol exports averaged 138,000 barrels a day, falling 12,000 from the prior week and 32,000 from this time last year.
The USDA’s updated corn for ethanol use estimate is out March 11th.