Ethanol production slips to lowest since late January
In Washington, Dow Jones reports Energy Information Administration data shows ethanol production fell to an average of 1.04 million barrels per day, the lowest level since late January and far below analysts’ estimates of between 1.09 million barrels a day and 1.122 million barrels a day. Despite the lower production volumes, stocks rose to 26.95 million barrels, up 249,000 barrels compared to the week prior. Corn consumption needs to be higher than last week and remain at those levels the rest of the crop year in order to achieve the USDA’s forecast of 5.6 billion bushels.
Category: Fuels
