U.S. ethanol production reaches record high
June 23, 2014
by World Grain Staff
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KANSAS CITY, MISSOURI, U.S. — U.S. ethanol production increased about 3% to a record average of 972,000 barrels per day in the week ended June 13, according to data from the U.S. Energy Information Administration (EIA).
It was the sixth consecutive weekly gain in ethanol production. The prior record was 963,000 barrels per day in the final week of 2011.
At the same time, ethanol stocks declined 572,000 barrels to 17.85 million barrels, a three-week low, according to the EIA.
Higher gasoline prices have increased demand for ethanol, trade sources said, while near-record profit margins for ethanol manufacturers, largely due to lower corn prices, also encouraged production.