U.S. Ethanol Production Hits Pandemic High

By Kirk Maltais

U.S. ethanol production has again jumped this week, bringing the daily production rate to its highest level since before the coronavirus pandemic.

In its latest weekly report, the EIA said that U.S. daily ethanol production through Oct. 15 hit a rate of 1.1 million barrels per day, up from 1.03 million barrels per day reported last week. The uptick is more than anticipated by analysts surveyed by Dow Jones, who estimated production to be anywhere from 970,000 barrels per day to 1.06 million barrels per day.

It is the highest daily ethanol production has been since June 2019, prior to the beginning of the Covid-19 pandemic.

Meanwhile, U.S. ethanol inventories also grew, with inventories through Oct. 15 reported at 20.08 million barrels, the highest in three weeks. It is slightly higher than anticipated by analysts this week.

Corn futures trading on the Chicago Board of Trade are higher today, with the most-active contract up 0.3% to just above $5.32 per bushel this morning.

To see related data, search "U.S. DOE Oil Data: PADD Breakdown" in Dow Jones NewsPlus.

Write to Kirk Maltais at [e-mail]

(END) Dow Jones Newswires

10-20-21 1123ET