Weekly ethanol production and use for blending were down 1 to 2 percent during the first half of March, while stocks rose to 26.4 million barrels as of Mar. 10—a record level for the week and close to the highest level for March, which was set last year at 26.5 million barrels as of Mar. 25, 2022.
Ethanol production dropped to just 844,000 barrels per day during the last week of 2022 thanks to severe weather conditions during the Arctic cold front that crossed the Midwest during that time. January production showed week-on-week recovery as plants came back online, and output since then has been steady around 1.01 million barrels per day, down 1 percent from average Jan-Mar production in 2022.
Use by blenders and refiners in January and the first half of February was stronger than last year but still below pre-pandemic levels. Overall, this year’s utilization looks like it’s headed toward similar springtime volumes as we saw in 2021 and 2022.
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