News

Ethanol stocks down, but close to highs

U.S. ethanol stocks declined last week, while staying near historic highs.

The U.S. Energy Information Administration says domestic supplies were 23.897 million barrels, down 233,000 on the week, but still the fourth highest weekly total on record. The industry anticipates at least some increase in demand from year-round E15 use, but there are uncertainties about the timing and actual implementation of President Trump’s proposal.

Production averaged 1.024 million barrels a day, up 13,000 on the week.

The USDA expects record corn demand for ethanol use this marketing year.