U.S. ethanol production moved modestly higher last week, while the supply tightened for the first time since October.
The U.S. Energy Information Administration says production averaged 935,000 barrels a day, up 1,000 on the week, but down 127,000 barrels on the year because of slower blending demand caused by lower travel linked to COVID-19 and higher corn prices reducing margins.
The Renewable Fuels Association says net inputs by refiners and blenders and the amount of gasoline supplied to the market were below the previous week and last year’s levels.
