The U.S. Energy Information Administration says production averaged 1.041 million barrels a day, up 30,000 on the week as some producers resume full operations after a brief slowdown, but down 38,000 on the year with some questions about demand due to relatively high gasoline prices.
The industry is also concerned about a potential railroad strike, which would have a big impact on movement.
Iowa State University’s Center for Agricultural and Rural Development says projected margins for Iowa producers dipped slightly, but remained in positive territory.
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The Renewable Fuels Association says net inputs by refiners and blenders were 0.8% lower than last week while the volume of gasoline supplied to the market 4.7%.
Ethanol stocks surged to 22.829 million barrels, a ten-week high, 1.531 million above the prior week and 2.665 million more than a year ago.
The USDA’s next corn for ethanol use estimate is out December 9th.
