U.S. ethanol production moved modestly lower last week.
The U.S. Energy Information Administration says production averaged 1.018 million barrels a day, a decline of 23,000 on the week and 17,000 on the year. Part of that decline can be linked to industry uncertainties about a rail strike, which would greatly limit domestic movement of ethanol. Iowa State University’s Center for Agricultural and Rural Development says margins fell a little bit below the cost of production for some Iowa producers.
