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Ethanol production rebounds

 

 

Average daily ethanol production last week climbed back above a million barrels a day as plants went back on-line after the New Year’s holiday.

The U.S. Energy Information Administration says production was 1.061 million barrels a day, up 65,000 on the week and 7,000 above last year.

The USDA expects corn for ethanol consumption to top 5.5 billion bushels this marketing year in order to meet demand, supporting production even as higher corn prices trim margins.

Stocks were up for the third week in a row, gaining 24,000 barrels to 22.743 million, at least partially because winter fuel blends contain less ethanol than summer blends.

 

 

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