Ethanol production rose last week, and demand signals were mostly bullish.
The U.S. Energy Information Administration says ethanol production averaged 1.126 million barrels per day, the highest in two months, up 31,000 on the week and 64,000 on the year.
Margins are in positive territory, and the industry continues to expect strong domestic and export demand for ethanol.
Ethanol stocks hit a four-week low at 25.58 million barrels, a decline of 757,000 from the previous week and 1.796 million from 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 U.S. market both notched multi-month highs.
Ethanol exports averaged 188,000 barrels per day, down 29,000 on the week, but up 26,000 on the year.
The USDA expects 5.6 billion bushels of corn to be used for ethanol production this marketing year, with the next guess out April 9th.
