U.S. ethanol production fell sharply last week.
The U.S. Energy Information Administration says production averaged 980,000 barrels a day, the lowest since early May, down 59,000 barrels from the previous week with some plants idling for maintenance after the summer driving season. Still, that is up 79,000 barrels on the year with producers encouraged by strong margins.
Iowa State University’s Center for Agricultural and Rural Development says operating margins for the average Iowa plant gained more ground, hitting the highest levels since late 2021 due to solid demand and relatively low corn prices.
