Ethanol supply near four year low
Ethanol production and stocks both declined last week.
The U.S. Energy Information Administration says production averaged 881,000 barrels a day, down 25,000 on the week and 77,000 barrels on the year, largely because of the blending demand uncertainties caused by COVID-19.
The Renewable Fuels Association says the volume of gasoline supplied to the market and ethanol blender inputs were both up fractionally from the previous week, but still well below last year’s levels.
Stocks were reported at 19.691 million barrels, a decrease of 306,000 from the week before and 3.528 million barrels below a year ago, the tightest domestic supply since the end of 2016.
The RFA says ethanol imports into the West Coast averaged 16,000 barrels a day.
The USDA’s next corn for ethanol use estimate is out October 9th.