Ethanol production, stocks rise
U.S. ethanol production rose to 1.098 million barrels per day, up 26,000 on the week. Ethanol stocks increased to 23.574 million barrels. Iowa State University reports profitable margins for Iowa ethanol plants. Ethanol exports averaged 82,000 barrels per day, slightly higher than the previous week. Corn demand for ethanol is estimated at 5.45 billion bushels, with updates expected on September 12th.
U.S. ethanol production shot higher last week.
The U.S. Energy Information Administration says production 1.098 million barrels a day, up 26,000 on the week and 50,000 on the year.
Iowa State University’s Center for Agricultural and Rural Development says estimated operating margins for the average Iowa plant continue to show a profit.
Ethanol stocks were reported at 23.574 million barrels, an increase of 220,000 from the previous week and 784,000 From a year ago.
The Renewable Fuels Association says net inputs of ethanol purchased by refiners and blenders was modestly lower, while the volume of gasoline supplied to the market was modestly higher.
Ethanol exports averaged 82,000 barrels a day, 11,000 more than the prior week, but 12,000 less than last year.
Corn for ethanol demand is estimated at 5.45 billion bushels for this and next marketing year, with the USDA’s next guess out September 12th.
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