News

Ethanol production, stocks higher

U.S. ethanol production and stocks both climbed last week.

The U.S. Energy Information Administration says production averaged 1.04 million barrels a day, up 25,000 on the week even as corn prices firmed. The ethanol industry has expressed optimism about increased demand because of plans for year-round E15 use, but opposition from some farm groups, environmental organizations, and the petroleum industry could complicate the process.

Supplies jumped 576,000 barrels to 24.021 million barrels, the second time above 24 million this year and largest supply since the week ending March 9th.

Corn for ethanol use is on pace to meet or exceed USDA expectations for the current marketing year.