U.S. ethanol production shot higher last week.
The U.S. Energy Information Administration says production averaged 1.069 million barrels a day, an increase of 46,000 on the week and 86,000 on the year. Iowa State University’s Center for Agricultural and Rural Development says projected operating margins for the average Iowa plant did see a week-to-week decline, while remaining solidly in positive territory, encouraging production.
The Renewable Fuels Association says domestic stocks hit a sixteen-week high at 23.435 million barrels, 555,000 above a week ago and 11,000 more than a year ago.
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