News

Ethanol production up as stocks tighten

U.S. ethanol production moved higher last week as weather eased in the Midwest and plants resumed full production schedules after the holidays.

The U.S. Energy Information Administration says production averaged 943,000 barrels a day, a jump of 99,000 from the previous week’s near two-year low, but that was down 63,000 on the year due to uncertainties about demand and margins.

The Iowa State University Center for Agricultural and Rural Development says margins did move back into positive territory for the average Iowa ethanol producer, but were well below a year ago.

The Renewable Fuels Association says net inputs by refiners and blenders were the lowest in a year, while the volume of gasoline supplied to the market was fractionally higher.

The domestic supply of 23.8 million barrels was 644,000 less than the prior week, but 889,000 more than this time last year.