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Ethanol production weakens as supply moves higher
U.S. ethanol production dipped last week as the supply grew for the first time since July.
The U.S. Energy Information Administration says production averaged 926,000 barrels a day, down 11,000 on the week, but up 20,000 on the year.
The domestic supply was higher for the first time in eight weeks at 20.111 million barrels, gaining 101,000 from the previous week and 114,000 from this time last year.
The Renewable Fuels Association says net inputs by refiners and blenders and the volume of gasoline supplied to the market were close to the prior week and above year ago levels.
The USDA says Midwest ethanol prices last week were mostly higher.
The USDA’s next corn for ethanol use estimate is out October 12th.
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