DOE: U.S. Ethanol Output Declines 0.8%
Source: Bloomberg, Leela Landress (2/16/11)
"U.S. ethanol production fell to 893,000 bpd last week."
Ethanol production in the U.S. fell 0.8% to 893,000 barrels per day (bpd) last week, according to the Department of Energy.
Stockpiles remained unchanged at 19.6 million barrels, the department reported today in Washington.
Production of conventional gasoline blended with ethanol rose 0.1% to 4.66 million bpd. Refiners receive a $0.45 tax credit for every gallon of ethanol blended into the motor fuel.
Denatured ethanol for March delivery fell 0.8% to $2.425 a gallon at 11:10 a.m. New York time on the Chicago Board of Trade.
Average ethanol mills in Iowa and Illinois are losing $0.09 and $0.06, respectively, on every gallon produced on a spot basis, according to Ag Trader Talk, an online grains information service in Clive, Iowa.