Texas (USA): US Ethanol prices have witnessed a significant decline in the week ending November 3, resulting in higher domestic production and low freight support. Average Ethanol production in the US has been up by 1% in the week ending October 27, according to the data released by EIA on November 1. As per the report, fuel Ethanol production has been averaged at 1.052 million barrels per day (bpd), up 12,000 bpd against the previous week's production. However, Stocks have fallen by 2 percent and reached the lowest level since December 2021, while exports have surged by 6 percent.

Liquid tanker rates from US port to Brazil have been 3 percent lower in the week ending November 3. Freight rates from the US Gulf to India have witnessed an 8 percent reduction, the largest decline amongst other roots. On an average basis, tanker freight rates in the US Gulf have been down 3 percent this week. Liquid tanker freight rates from Brazil have also decreased in the week ending November 3. As of November 3, Ethanol prices have been assessed at USD 760 per metric tonne, FOB Texas, with a decrease of 8.6 percent.

On November 1, the USDA awarded USD 145 million in loans and granted around 650 projects to develop the rural energy sector. Among them, two Ethanol plants have gained funding as well. One Earth Energy LLC has received funding to install the Whitefox ICE system in its Illinois-based dry-mill Ethanol plant. This plant has been expected to generate an additional 24.52 million gallons of Ethanol per year, which has been further projected to fuel 1.85 million automobiles annually, as per USDA. Western Plains Energy LLC has also been granted about USD 1.1 million under the program. That award is planned to be used specifically at the company's Kansas-based Ethanol plant to improve its production capacity. According to USDA, the project has been expected to allow the facility to boost Ethanol production to 4.8 million gallons per year, which is enough to fuel 6,500 automobiles per year.

Global Ethanol Summit, arranged by the US Grains Council, was held at Reston, Virginia; a delegation of 40 people from 15 Latin American countries participated. This summit has been visited by states like Michigan, South Dakota, and Minnesota to learn more about Ethanol production technologies and supply chains in the US. The visit was an eye-opener for the delegates, showing the importance of the US Ethanol industry in the agricultural sector.