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Ethanol production down for third week in a row

U.S. ethanol production declined last week for the third week in a row, continuing to back off from the last record high set in late January.

Processing margins have tightened with firm to higher corn prices, while stocks have built, at least partially because of lower export demand as China focuses on domestic production instead of imports from the U.S. and other nations.

That’s still 17 weeks in a row with production above a million barrels a day, compared to the previous longest streak of just four weeks.

The U.S. Energy Information Administration says last week’s average was 1.034 million barrels per day, down 6,000 on the week.

Stocks climbed 169,000 barrels to 22.669 million – the most since late March of last year.