U.S. ethanol production is continuing at a strong and steady pace, hitting a new four week high for the year, according to the latest Energy Information Administration data analyzed by the Renewable Fuels Association.
Last week, ethanol production averaged 1.072 million barrels per day (b/d) or 45.02 million gallons daily. Output grew 8,000 b/d over the week before, climbing to a 26-week high. The four-week average for ethanol production lifted to 1.057 million b/d, which is the highest this year, for an annualized rate of 16.20 billion gallons.
Stocks of ethanol were 21.7 million barrels. That is a 0.5% draw down from last week.
There were zero imports recorded for the 29th week in a row.