News

U.S. ethanol supply lowest in months

U.S. ethanol stocks declined to multi-month lows last week. The U.S. Energy Information Administration says stocks were 22.676 million barrels, down 517,000 barrels on the week, below 23 million for the first time this year. Production was up 15,000 barrels for an average of 1.016 million a day. The industry continues to monitor margins and policy concerns, while waiting to see what role ethanol plays in trade negotiations.

The Renewable Fuels Association says ethanol exports during February were 113.8 million gallons, down 11% on the year, with Brazil purchasing about a third of the monthly total. DDGS exports were the lowest in almost 6 years at 686,005 tons.

The USDA projects corn for ethanol use this marketing year at 5.5 billion bushels.