U.S. Ethanol Production Surges
By Kirk Maltais
Daily production of ethanol in the U.S. has jumped, edging back
closer to the near-record levels seen in late October.
In its latest weekly report, the EIA said that U.S. daily
production of ethanol through December 3 hit 1.09 million barrels
per day, up from 1.035 million barrels per day reported last week.
This is more than expected by analysts surveyed by Dow Jones, who
were projecting production to be anywhere from 1.025 million
barrels per day to 1.06 million barrels per day.
U.S. ethanol inventories also rose for the week, climbing over
160,000 barrels to 20.46 million barrels. This uptick fell within
analyst expectations, which were anywhere between 20.33 million
barrels to 20.9 million barrels.
On Tuesday, the EPA confirmed its new mandates for blending
biofuel into gasoline -- with The Wall Street Journal reporting
that the EPA will require refiners to add 18.52 billion gallons of
ethanol and other biofuels to be blended into gasoline for 2021 --
down from a mandate of 20.09 billion gallon previously set for
2020. Agency officials are also lowering the amount required for
2020 to 17.13 billion gallons, down from the 20.09 billion
gallon-target it had set in late 2019.
Corn futures trading on the CBOT are up 0.4% in trading
Wednesday to nearly $5.89 per bushel, this after beginning the day
To see related data, search "U.S. DOE Oil Data: PADD Breakdown"
in Dow Jones NewsPlus.
Write to Kirk Maltais at firstname.lastname@example.org
(END) Dow Jones Newswires
December 08, 2021 11:12 ET (16:12 GMT)
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