U.S. Ethanol Production and Stocks Shrink

By Kirk Maltais

Daily production and inventories of U.S. ethanol fell back in the past week, according to data from the EIA.

In its weekly report released Wednesday, the EIA said that daily production of ethanol for the week ended July 30 fell 1,000 barrels per day to 1.013 million barrels per day. It's the lowest daily ethanol production has been since late May.

Meanwhile, inventories also declined, falling 84,000 barrels to 22.65 million barrels.

Analysts surveyed by Dow Jones this week had forecast production to total anywhere from 1 million barrels per day to 1.03 million barrels per day. For stocks, analysts had forecasted them to rise to as high as 22.93 million barrels.

Corn futures trading on the Chicago Board of Trade are down 0.4% today to below $5.50 per bushel.

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

Write to Kirk Maltais at [e-mail]

(END) Dow Jones Newswires

08-04-21 1108ET