NASHVILLE, Tenn. (RFD News) — U.S. ethanol production increased last week, keeping corn demand strong even as inventories climbed to an 11-week high and, according to the U.S. Energy Information Administration (EIA), production reached 1.12 million barrels per day, up 0.9% for the week.
Output was 2.2% above last year and 7.6% above the five-year average. The four-week production average rose to 1.11 million barrels per day, equivalent to an annualized 17.11 billion gallons.
Ethanol stocks increased 1.1% to 24.8 million barrels, 9.5% above last year. Refiner and blender ethanol inputs fell 2.2% to 915,000 barrels per day, while gasoline demand slipped slightly.
Exports also weakened sharply, dropping 45.5% to 109,000 barrels per day. That leaves domestic production running well ahead of several demand indicators, while inventories continue to build.
For corn producers, sustained ethanol output remains supportive, but rising stocks and weaker exports could limit additional demand growth unless gasoline use or overseas shipments strengthen.
