US ethanol stocks rebound, prices drop

March 22, 2011 |

In Washington, the Energy Information Agency is reporting that weak demand and a rebound in production helped to push fuel ethanol stocks to an eight month high in the week ended March 11. Ethanol production rose to 895,000 barrels a day from 883,000 the week before, while refiners and blenders net inputs continued to fall to 793,000 bpd compared with 795,000 the week before. In Illinois, Chicago ethanol futures have fallen to their lowest in two weeks following lower futures prices for corn. In cash market trading, ethanol in the U.S. Gulf plunged 5 cents, or 1.9 percent, to $2.605 a gallon and in Chicago the additive lost 2.5 cents, or 1 percent, to $2.56, according to data compiled by Bloomberg. Ethanol in New York decreased 1 cent, or 0.4 percent, to $2.66 a gallon and on the West Coast the biofuel increased 1 cent, or 0.4 percent, to $2.70.

More on the story.

Category: Fuels

Thank you for visting the Digest.