News

Weekly ethanol numbers reflect demand expectations

U.S. ethanol production jumped last week, while stocks contracted.

The U.S. Energy Information Administration says production averaged 1.058 million barrels a day, up 18,000 on the week, as the industry continues to prepare for increased demand during the summer driving season. Stocks were down 459,000 barrels on the week at 21.505 million.

The USDA expects record high corn for ethanol use this marketing year and even greater demand next marketing year, which starts September 1st.