U.S. ethanol production jumped by 16 percent last week to an average of 1.110 million barrels a day, according to the Energy Information Administration on Wednesday. Production rebounded after cold temperatures impacted output the previous week. Output was also 2.6 percent above the same week last year, as ethanol processors continue to operate at a record pace.

Estimated corn crushed for ethanol was about 107.11 million bushels. Cumulative crushings for the marketing year was approximately 2.421 billion bushels, reaching 43 percent of the USDA’s target. The agency left its 2025/26 corn ethanol forecast unchanged at 5.6 billion bushels in Tuesday’s WASDE report.

Monthly data last week showed that ethanol processors crushed 488 million bushels of corn for ethanol in December, up 1.8 percent year-over-year. Year-to-date crushings for the marketing year were running 0.7 percent ahead of the previous season at 1.865 billion bushels.

The estimated operating margin for the average Iowa plant remained in positive territory despite a weekly decline, according to Iowa State University’s Center for Agricultural and Rural Development.

U.S. ethanol inventories rose 0.4 percent last week to 25.25 million barrels. Stockpiles were 1.7 percent below the same week last year but remained above the five-year average.

Implied gasoline demand rose 1.8 percent last week to 8.3 million barrels a day. Consumption was 3.2 percent less than a year ago.

U.S. ethanol exports averaged 137,000 barrels a day last week, down from 216,000 barrels the previous week and 150,000 barrels the same week last year.

Monthly data from the U.S. Census Bureau last week showed that ethanol exports totaled 211.3 million gallons in November, up 14 percent year-over-year and the second-highest volume on record. Year-to-date shipments are running 12.6 percent ahead of 2024 at a record pace of 1.96 billion gallons. The agency will release data for December on Feb. 19.

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