U.S. ethanol production moved modestly higher last week, while the supply tightened.
The U.S. Energy Information Administration says last week’s production averaged 941,000 barrels a day, an increase of 19,000 from the week before, but a decrease of 82,000 from last year as the industry continues to grapple with blending demand uncertainties caused by COVID-19. The Renewable Fuels Association says two indicators of demand declined, with the volume of gasoline supplied to the market at a twelve-week low and net inputs of ethanol hitting an eight-week low.
