Business & Investment

U.S. ethanol supply continues to grow


U.S. ethanol supply continues to grow

Ethanol inventories in the United States have risen for four consecutive weeks.

According to the US Energy Information Administration, supply is 24.47 million barrels, the highest since mid-May 2020, an increase of 884,000 barrels a week and 848,000 barrels a year.

Total inventories for the week show the largest amount of ethanol on hand recorded in the Midwest, indicating that demand is slowing despite rising gas prices.

According to the Renewable Fuels Association, demand signals were mixed last week, with lower net inputs from refiners and blenders, but more gasoline supplied to the market.

The average daily production is 1.035 billion, 18,000 less than the previous week, but 90,000 more than a year ago.

The Center for Agricultural and Rural Development at Iowa State University said last week that ethanol margins had fallen again, and the USDA said ethanol prices in the Midwest were nearly stable.

The next corn quote for USDA ethanol use is February 9thth..

U.S. ethanol supply continues to grow U.S. ethanol supply continues to grow

Back to top button