Ethanol stocks fall while production increases thanks to higher demand
In Washington, Brownfield Ag News reports Energy Information Administration data shows U.S. ethanol stocks fell to 24.87 million barrels last week, the lowest level since October, driven by steady demand. According to the Energy Information Administration, supplies dropped by 1.15 million barrels from the previous week and were also below year-ago levels. Ethanol production increased to 1.082 million barrels per day as plants resumed operations after seasonal maintenance. Exports also strengthened, averaging 162,000 barrels daily, up from both the prior week and last year. Meanwhile, the USDA continues to forecast corn use for ethanol production at 5.6 billion bushels for both the current and upcoming marketing years.
Category: Fuels
