U.S. Ethanol Production Posts Large Gain

Source: By Kirk Maltais, Market Watch • Posted: Wednesday, October 19, 2022

Daily U.S. production of ethanol jumped in the past week, climbing back over 1 million barrels a day for the first time since August.

In its latest weekly report, the EIA said that daily production of ethanol for the week ended Oct. 14 rose to 1.016 million barrels a day. That is up 84,000 barrels from last week’s 932,000 barrels a day, and lands well outside of forecasts by analysts surveyed by Dow Jones Newswires.

Ethanol inventories fell back slightly, the EIA also reported, with stocks at 21.84 million barrels, versus 21.86 million barrels last week. Analysts were expecting inventories to land anywhere from 21.76 million barrels to 22.01 million barrels.

Most-active corn futures on the CBOT are lower in trading, with the contract down 0.8% to $6.75 per bushel.