U.S. Ethanol Stocks Fall, Production Rises

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by Paulo Trevisani

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US ethanol inventories fell, disappointing analysts’ expectations of a weekly increase.

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In its latest weekly report, the EIA said US ethanol inventories for the week ended Friday totaled 20.68 million barrels, down 29,000 from the previous week’s 20.71 million barrels. Analysts polled by the Dow Jones expect the stock to rise from 20,200 barrels to 20,605 barrels.

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Meanwhile, daily production rose to 1.06 million barrels per day this week, up 8,000 barrels per day from the previous week. Analysts had expected output between 1.02 million barrels per day and 1.04 million barrels per day.

Corn futures trading at the Chicago Board of Trade recovered from early losses on Wednesday, a report seen as support for corn demand. Currently the most active contracts range from 0.7% to $6.09 per bushel.

To see related data, search “US DOE Oil Data: PADD Breakdown” in Dow Jones NewsPlus.

Write to Paulo Trevisani at [email protected]

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