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Ethanol production down, stocks up

Weekly ethanol production dropped last week, while stocks hit an all-time high.

The U.S. Energy Information Administration says production was down an average of 25,000 barrels a day to 1.019 million. Production typically trends lower in March and April as fuel retailers ready summer blends and plants do maintenance. That’s the lowest weekly average since late November, but the 23rd week in a row with production holding above a million barrels a day because of expectations for solid domestic demand and the large available supply of corn.

That high pace of production and a lack of export demand from China has had an impact on supplies. Stocks were up almost 448,000 barrels on the week, topping 23.705 million, the most on record since the EIA started keeping the data in 2010.

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