U.S. Ethanol Production Sees Slight Rise Amid Strong Demand

U.S. ethanol production rose slightly over the past week, according to the U.S. Energy Information Administration (EIA). Production averaged 1.117 million barrels per day, up 10,000 from the previous week and 24,000 from the same period last year.

The increased demand expectations and margins are contributing factors to this growth in domestic ethanol production. The industry is responding by using more corn for ethanol production.

Ethanol stocks reached an 11-week high at 24.798 million barrels, a rise of 274,000 from the previous week and 2.149 million from last year. In contrast, net inputs of ethanol purchased by refiners and blenders fell to a four-week low.