The latest Energy Information Administration data analyzed by the Renewable Fuels Association for the week ending March 15, shows ethanol production edged 1,000 barrels lower to an average of 1.004 million barrels per day (b/d), or 42.17 million gallons daily.

However, the four-week average ethanol production rate grew 0.2% to 1.015 million b/d—equivalent to an annualized rate of 15.56 billion gallons and stocks of ethanol increased 2.9% to a new record high of 24.4 million barrels, surpassing the high set 53 weeks prior.

Production numbers for the week ending March 22 are likely to show the impact of flooding in the Midwest that has reportedly impacted 13 percent of regular capacity, with many plants in Nebraska, Iowa and South Dakota limiting production or shutting down