BrownfieldAgNews reports:
U.S. ethanol production dipped last week.
The U.S. Energy Information Administration says production averaged 1.071 million barrels a day, down 27,000 on the week, but up 64,000 on the year.
That year-to-year increase in production is driven by demand expectations and producer margins.
Iowa State University’s Center for Agricultural and Rural Development says estimated operating margins for the average Iowa plant remain in positive territory.
Ethanol stocks of 23.572 million barrels were 2,000 less than the previous week but 1.963 million more than a year ago.
The Renewable Fuels Association says net ethanol inputs purchased by refiners and blenders and the volume of gasoline supplied to the market were both above the week before.
Ethanol exports averaged 144,000 barrels a day, an increase of 63,000 from the prior week and 76,000 from last year.
The USDA’s updated corn for ethanol use projection is out September 12th.
