U.S. ethanol production drops to lowest since February 2021

Sep. 21, 2022 12:35 PM ETValero Energy Corporation (VLO), ADM, GPREDAR, CLNE, CVI, CORN, MPC, PSX, PBF, CRAK, C_1:COMBy: Carl Surran, SA News Editor6 Comments

Ethanol gasoline fuel nozzle and corn kernels. Biofuel, agriculture and fuel price concept

JJ Gouin

Daily ethanol production in the U.S. fell by much more than expected, falling to its lowest total in 19 months, after the U.S. Energy Information Administration reported ethanol production fell to 901K bbl/day for the week ended September 16 from 963K bbl/day in the prior week.

The largest publicly traded producers of fuel-grade ethanol in the U.S. are Valero (NYSE:VLO), Archer Daniels Midland (NYSE:ADM) and Green Plains (NASDAQ:GPRE).

Other potentially relevant tickers include (CRAK), (CORN), (PBF), (MPC), (PSX), (CVI), (DAR), (CLNE)

This latest ethanol production figure was the lowest total since February 2021, when daily output was reported at 849K bbl/day.

Ethanol stockpiles for the week fell to 22.5M barrels from 22.84M barrels in the previous week, the fourth consecutive week that inventories have declined.

Most-active corn futures (C_1:COM) on the Chicago Board of Trade recently were -1.1% at $6.84 per bushel.

Valero (VLO) offers investors "a steady, nominal growth story in essential markets," but its sub-4% dividend yield might distract yield seekers, Patient Tech Investors said in an analysis newly published on Seeking Alpha.

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