U.S. ethanol production and the domestic supply were both modestly higher.
The U.S. Energy Information Administration says production averaged 1.046 million barrels a day, up 22,000 on the week and 49,000 on the year, staying ahead of the USDA’s expected pace for the current marketing year.
That week to week gain followed an improvement in margins, with Iowa State University’s Center for Agricultural and Rural Development estimating a better return for the average Iowa plant.
