US ethanol production edges up

In Washington, the EIA reports that ethanol production averaged 875,000 barrels per day (b/d) — or 36.75 million gallons daily. That is up 18,000 b/d from the week before, the highest weekly average since the week ended 6/22/2012. Stocks of ethanol stood at 16.2 million barrels. That is a 1.5% decrease from last week. Overall gasoline demand for the week averaged 369.2 million gallons daily, the highest of the year. On the co-products side, ethanol producers were using 13.267 million bushels of corn to produce ethanol and 97,653 metric tons of livestock feed, 87,058 metric tons of which were distillers grains. The rest is comprised of corn gluten feed and corn gluten meal. Additionally, ethanol producers were providing 4.56 million pounds of corn oil daily.