US Ethanol Production Rises
U.S. ethanol production rose to 1.036 million barrels per day last week, up 43,000 from the week prior. Despite the boost, Iowa plants saw slightly lower margins, though still profitable. Ethanol stocks hit a low since January, while exports fell to 94,000 barrels/day. Refinery inputs and gasoline demand also dipped. USDA’s updated corn usage report is due June 12.
U.S. ethanol production rose to 1.036 million barrels per day last week, an increase of 43,000 barrels from the previous week and 17,000 more than the same time last year, as some facilities concluded seasonal maintenance. Despite the production boost, Iowa State University reports that average operating margins for Iowa plants dipped slightly but remained profitable.
Ethanol demand indicators were mixed. Stocks fell to 24.944 million barrels, their lowest since January but still higher than a year ago. Meanwhile, both ethanol inputs by refiners and gasoline supplied declined, and exports dropped to 94,000 barrels per day—down 20,000 from the week prior but up 11,000 from last year. The USDA will release updated corn-for-ethanol usage projections on June 12.
To Read more about Ethanol Industry & Bio Energy News, continue reading Agriinsite.com
Source : KSJB
