News

Ethanol production up as supply tightens

U.S. ethanol production last week climbed back above a million barrels a day for the first time since mid-September.

The U.S. Energy Information Administration says production averaged 1.004 million barrels a day, a week to week improvement of 8,000 barrels, with improved margins encouraging production. Still, that’s down 55,000 barrels on the year because of the continued uncertainties about federal policy towards renewable fuels.

Stocks were down 265,000 barrels on the week at 21.099 million, a new two year low.

The USDA’s next corn for ethanol use estimate is out November 8th.