U.S. ethanol production and stocks both moved lower last week.
The U.S. Energy Information Administration says production averaged 1.048 million barrels a day, a decline of 21,000 on the week, but a rise of 61,000 on the year. The week-to-week decrease can be linked to uncertainties about near-term demand, while that year-to-year increase in partially due to strong margins.
Iowa State University’s Center for Agricultural and Rural Development says operating margins for the average Iowa plant improved over the past week, while remaining just under the year’s highs.
