News

Ethanol stocks at multi-week high

Ethanol production and stocks grew last week.

The U.S. Energy Information Administration says ethanol production averaged 1.081 million barrels a day, up 9,000 on the week as several plants prepared for a holiday related slowdown this week. That matches the second highest weekly rate of production this year.

Stocks hit a six-week high, up 1.277 million barrels to 22.844 million, with a slight decrease in blending demand during the surveyed week.

The USDA expects 5.450 billion bushels of corn to be used for ethanol this marketing year, with the next estimate out July 11th. The 2018/19 marketing year runs through the end of August.