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Weekly ethanol average below a million barrels a day

U.S. ethanol production last week averaged 986,000 barrels a day, the first time since late October of last year the average has been below a million.

Industry profit margins are good and there’s plenty of corn available at relatively low prices, but many plants do maintenance in early spring and stocks did hit a record high earlier this month.

Stocks backed off from that record high, down about 800,000 barrels on the week to 22.903 million, according to the U.S. Energy Information Administration.

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