U.S. ethanol production averaged 1.02 million barrels per day during the week ending Aug. 16, down 2.1 percent for the week and down around 4.7 percent YOY. Since mid-July, this year’s weekly ethanol production has lagged last year’s volume by around 4 percent.
Weekly use by blenders and refiners fell 0.6 percent week over week to 961,000 barrels per day. Blending remained higher year over year, however, and the blending use figure for the week of Aug. 9 was the highest on record dating back to 2010.
U.S. ending stocks fell to 23.4 million barrels, down 2.2 percent from the week before but up 0.5 percent YOY.
According to DTN, biofuel company POET plans to idle its Charlottesville, Indiana plant, after the EPA granted 31 new small-refinery waivers on Aug. 9. The company believes small-refinery waivers are weakening ethanol demand.
POET, reported to be the world’s largest ethanol producer, has also reduced production at several of its other ethanol refineries, reducing its corn processing by about 100 million bushels, according to DTN.
Weekly U.S. ethanol production, by season
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