U.S. ethanol production surged to a multi-year high last week.
The U.S. Energy Information Administration says production averaged 1.094 million barrels a day, a jump of 24,000 barrels on the week and 73,000 on the year for the highest average since late October 2021.
That rise was in response to demand expectations tied to summer driving season and solid operating margins.
Iowa State University’s Center for Agricultural and Rural Development says the operating margins for the average Iowa plant did dip slightly from the previous week, but remained firmly in positive territory.
