Ethanol Production Decreases, Stock Hit One-Year High

(WASHINGTON, DC) Ethanol production eased lower last week according to data from the Energy Information Administration (EIA). The slight reduction brings average production to just over 43 million gallons daily. However, the four-week average production rate rose 1.4 percent to an annualized rate of 15.6 billion gallons. Stocks of ethanol climbed 2.5% to 24.3 million barrels. This marks the largest reserves in 51 weeks. There were no imports for the sixteenth week in a row. Average weekly gasoline supplied to the market increased by almost one percent to 380.6 million gallons per day. Expressed as a percentage of daily gasoline demand, daily ethanol production decreased to 11.3 percent.