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Ethanol production up on week, stocks jump

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U.S. ethanol production and stocks both notched multi-week highs.

The U.S. Energy Information Administration says production averaged 1.083 million barrels a day, a seven-week high, up 50,000 on the week and 69,000 on the year.

Iowa State University’s Center for Agricultural and Rural Development says the estimated operating margin for the average Iowa plant was in modestly positive territory, implying a slight profit.

Demand signals were mixed.

The Renewable Fuels Association says net inputs of ethanol purchased by refiners and blenders were up 2.7%, at its highest level since late January, while the volume of gasoline supplied to the market dropped 7.3%.

Ethanol production up on week, stocks jump