U.S. ethanol production held up well during the week of Christmas.
The U.S. Energy Information Administration says production 1.12 million barrels per day, rising 25,000 on the week and 9,000 on the year, boosted by demand expectations and good returns.
The Iowa State University Center for Agricultural and Rural Development says the estimated operating margin for the average Iowa plant is in positive territory.
Ethanol stocks of 22.944 million barrels were 416,000 higher than the week before, but 695,000 lower than a year ago.
The Renewable Fuels Association says net inputs of ethanol purchased by refiners and blenders, and the volume of gasoline supplied to the market both saw week-to-week declines against year-over-year gains.
Ethanol exports averaged 148,000 barrels per day, falling 71,000 from the previous week’s all-time high, while staying 49,000 above last year.
The USDA’s updated corn for ethanol use projection is out January 12th.
