U.S. ethanol production slowed to 784,000 barrels per day (bpd) for the week ended Jan. 11, according to the Energy Information Administration. Weekly ethanol production declined 42,000 bpd from the previous week and was the lowest level since the agency started releasing weekly data in June 2010.
Ethanol stocks rose 507,000 barrels to 20.36 million barrels from last week despite slowed production. Imports of ethanol slowed to 27,000 bpd.
U.S. ethanol producers have been struggling with weak margins the past year, due to a combination of lackluster gasoline demand, high corn prices and high ethanol inventory.
Abengoa SA, a Spanish renewable energy company, temporarily idled output at ethanol plants in York and Ravenna, Nebraska, until market conditions improve.
Market Snapshot, Noon CT (VIP) -- January 16, 2013
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