News

Multi-month high for ethanol production

U.S. ethanol production increased last week, while stocks tightened.

The U.S. Energy Information Administration says production averaged 1.064 million barrels a day, up 11,000 from the week before, and the highest average since the 1.068 million recorded for the week ending February 16th, 2018.

The industry continues to focus on demand expectations, even with the continued uncertainties about national renewable fuels policy.

Domestic stock were down 527,000 on the week at 21.647 million barrels, the tightest supply since late May 2018.

The USDA expects a record amount of corn to be used for ethanol production this marketing year and projects even stronger demand next marketing year.