BrownfieldAgNews reports:
U.S. ethanol production declined slightly last week.
The U.S. Energy Information Administration says production averaged 1.078 million barrels per day, down 9,000 on the week and 17,000 on the year.
That week-to-week dip was despite an improvement in the estimated operating margin for the average Iowa plant, which Iowa State University’s Center for Agricultural and Rural Development says is nearly steady with this time last year.
Ethanol stocks hit a more than two month high at 24.444 million barrels, rising 809,000 from the previous week and 721,000 from a year ago.
The Renewable Fuels Association says net inputs of ethanol purchased by refiners and blenders and the volume of gasoline supplied to the market were both above the week before, but below the preceding year.
Ethanol exports averaged 108,000 barrels per day, an increase of 14,000 from the prior week and 51,000 from last year.
The USDA’s updated corn for ethanol use projection is out August 12th.
