U.S. ethanol production hits multi-month high
U.S. ethanol production tied its high for the year last week. The U.S. Energy Information Administration says production averaged 1.051 million barrels a day, up 15,000 on the week and matching the high-water mark set in early January. The industry continues to monitor margins, wait for advancement of year-round E15 use, and watch trade negotiations.
Stocks were down 218,000 barrels at 22.25 million, a 41-week low according to the Renewable Fuels Association.
USDA last week lowered its corn for ethanol use projection because of recent
production data. The current marketing year for corn runs through the end of