According to the latest EIA data, ethanol production for the week ending March 13 stood at 1.093 million barrels per day, down by 33,000 bpd from the previous week. Ethanol stocks increased by 827,000 barrels to 26.407 million barrels. Exports declined by 14,000 bpd to 174,000 bpd, while refiner inputs fell by 25,000 bpd to 876,000 bpd. Meanwhile, the U.S. regular gasoline price rose from $2.94 at the end of February to $3.72 per gallon for the week of March 16.

The weekly export sales data will be released on Thursday, with old crop corn sales for the week ending March 12 expected in the range of 0.6 to 1.8 MMT, while new crop sales are estimated at 0 to 100,000 MT.

According to an Allendale survey, U.S. corn acreage is estimated at 93.68 million acres this year, down 5.12 million acres from last year.