News

Ethanol supply tightens

U.S. ethanol stocks tightened for the fifth week in a row, moving to a more than one-year low.

The U.S. Energy Information Administration says stocks were down 46,000 barrels on the week at 21.567 million, the tightest supply since May of 2018, as year-round E15 use has led to increased blending demand.

Production averaged 1.072 million barrels a day, a week to week decrease of 9,000.

The USDA expects 5.45 billion bushels of corn to be used for ethanol this marketing year, which runs through the end of August.