Ethanol Production Jumps and Gas Prices Down-Diesel Higher
From the Ag Information Network, I’m Bob Larson with your Agribusiness Update.
**California is making an additional $10.7 million in grants available for farmers who undertake conservation measures that reduce water use and help protect wildlife and water quality in the Sacramento-San Joaquin River Delta.
New state funding, approved in the 2022 state budget, follows an earlier allotment of $10 million.
That funding was used to enroll 8,700 acres of agricultural lands in the Delta Drought Response Pilot Program conservation effort.
**The Energy Information Administration says U.S. ethanol production jumped to its highest level in almost a month during the week ending on October 7.
Ethanol output rose to an average of 932,000 barrels per day, the largest production level since the week ending on September 9 and up 43,000 from the prior week.
Ethanol inventories rose to 21.86 million barrels, up from 21.68 million barrels a week earlier.
**The nation's average gas price declined for the first time in four weeks, falling 5.4 cents from a week ago to $3.86 per gallon.
The national average is up 20.6 cents from a month ago and 56.6 cents per gallon higher than a year ago.
The national average diesel price increased 18.7 cents in the last week and stands at $5.26 per gallon.
Diesel and heating oil prices will likely continue to rise with extremely low inventories.
