Ethanol production up on week, supply down

Ethanol production up on week, supply down

U.S. ethanol production hit a two-month high last week.

The U.S. Energy Information Administration says production averaged 1.072 million barrels per day, up 4,000 on the week and 36,000 on the year.

That’s the highest weekly average since late March as producers end seasonal maintenance and respond to summer driving season demand expectations.

Iowa State University’s Center for Agricultural and Rural Development says estimated margins for the average Iowa plant showed the potential for profit.

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