Ethanol stocks down on week, but remain ample
U.S. ethanol stocks backed off from record highs last week.
The U.S. Energy Information Administration says stocks were down 63,000 barrels on the week at 24.718 million, but that’s still one of the highest weekly totals on record.
The Renewable Fuels Association says 10.29 million gallons of ethanol were imported into the U.S. West Coast last week, the first reported imports in six weeks.
Production averaged 1.054 million barrels a day, up 14,000 on the week.
The USDA’s next corn for ethanol use estimate is out March 10th.