U.S. ethanol production fell sharply last week, while inventories also tightened, according to Energy Information Administration data analyzed by the Renewable Fuels Association.
For the week ending September 18, ethanol production dropped 6.5 percent to 1.03 million barrels per day, or about 43.2 million gallons daily. That was the lowest weekly production rate since early May, although output remained slightly above year-ago levels and 7.2 percent above the five-year average.
Ethanol stocks declined 2.1 percent to 24.7 million barrels, their lowest level in seven weeks. Inventories remained above both last year and the five-year average. Gasoline supplied to the U.S. market edged higher but remained below year-ago and five-year-average levels.
Meanwhile, ethanol exports fell 24.2 percent to 122,000 barrels per day. Refiner and blender ethanol inputs also declined, reaching their lowest level in ten weeks.
