U.S. Ethanol Production on Low End of Forecasts

By Kirk Maltais

Daily production of ethanol in the U.S. fell toward the low end of analyst estimates, the EIA reports.

In its latest weekly report, the EIA said that ethanol production fell to 1.021 million barrels per day for the week ended July 22, which is down from 1.034 million barrels the previous week. Analysts surveyed by Dow Jones this week had forecast production to land anywhere from 1.02 million barrels to 1.042 million barrels per day.

The EIA also reported a drop in ethanol inventories for the week, with inventories down to 23.33 million barrels from 23.55 million barrels reported last week. Today's total falls comfortably within analyst projections, with the forecast between 22.6 million barrels to 23.63 million barrels.

Corn futures on the CBOT are lower in trading today, with the most-active corn contract down 0.3% to $5.99 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

07-27-22 1103ET