Ethanol production lower, stocks grow
U.S. ethanol production sank last week as stocks moved to multi-month highs.
The U.S. Energy Information Administration says ethanol production averaged 962,000 barrels a day, down 15,000 barrels on the week and 68,000 on the year as the uncertainties about demand tied to COVID-19 continue to impact the industry.
According to the Renewable Fuels Association, blending inputs and the volume of gasoline supplied to the market were also both lower than the week before and a year ago.
Stocks were reported at 20.203 million barrels, the largest domestic supply since August, up 44,000 from the previous week but 782,000 below last year.
The RFA says no ethanol imports were recorded.
The USDA’s next corn for ethanol use estimate is out December 10th.