U.S. Weekly Ethanol Production Decline From Record Level

By Paulo Trevisani

Average daily ethanol production in the U.S. slowed in this week's report from the U.S. Energy Information Administration.

The EIA reported that for the week ended August 2, average ethanol production was 1.07 million barrels a day, down from a record-setting 1.11 million barrels a day a week earlier.

Analysts surveyed by The Wall Street Journal this week had forecast average production anywhere between 1.01 million barrels and 1.09 million barrels a day.

Inventories for the week totaled 23.77 million barrels, declining from last week's 23.97 million barrels. Analysts expected a higher number, somewhere between 23.99 million barrels and 24.80 million barrels.

The ethanol report came as most-active corn futures tried to recover from early lows. On the CBOT, corn is down 0.8% to $4.02 a bushel.

To see related data, search "U.S. DOE Oil Data: PADD Breakdown" in Dow Jones NewsPlus.

Write to Paulo Trevisani at [e-mail]

(END) Dow Jones Newswires

08-07-24 1107ET