US Ethanol Production Sees Sharp Rebound in Latest Weekly Data

US ethanol production rebounded significantly last week, according to data from the Renewable Fuels Association. For the week ending July 17, production climbed 5.2 percent to 1.09 million barrels per day, exceeding the same week a year ago by 1.5 percent. Ethanol stocks also edged 0.4 percent higher to 24.5 million barrels.

Gasoline demand strengthened 1.2 percent from the previous week, but remained slightly below year-ago levels. Refiner and blender ethanol use increased 3.5 percent, reaching its highest weekly level since mid-May. The largest gain came in exports, which jumped 95 percent from the previous week to 158,000 barrels per day.

The Renewable Fuels Association attributes the strong demand for US ethanol to both domestic and international markets, providing support for corn growers and the biofuels industry. This latest data reflects continued growth in the sector.