Ethanol Production Hits Lowest Level Since January Amid Seasonal Maintenance

U.S. ethanol production declined for the second week in a row, according to the U.S. Energy Information Administration (EIA). The latest figures show that ethanol production dropped to 1.007 million barrels per day, marking its lowest level since January.

This decrease is attributed to seasonal maintenance as the industry awaits more new crop corn. Despite this, production was still up 12,000 on the year thanks to demand expectations supporting a key sector of domestic corn use.

The Renewable Fuels Association reports that ethanol stocks fell to an eight-month low at 23.865 million barrels, down 818,000 from the previous week. However, this is still 1.101 million above last year due to production increases.