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March 22nd, 2017
Another stellar week for ethanol production. This week’s run was 1.044 million barrels per day. That was slightly off the 1.045 from last week. You should expect a dropoff in production into April. That will be normal.
Today’s number was 4.9% over last year. Our year to date pace is 5.0% over last year. USDA’s goal in corn for ethanol is a 3.4% increase.
Plants are still operating in the red. Ethanol prices fell in December from the concern over a change to biofuels policy and never recovered. It is not a hard enough loss to discourage production.
USDA needs to increase their corn for ethanol goal one more time yet. We suggest that will offset the lower feed/residual that they still need to do.Ethanol Production, Nelson's Notes | Comments Off on Weekly Ethanol Production 3-22-2017