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Ethanol production climbs as supply shrinks

Ethanol production last week topped a million barrels a day for the first time since late July as the domestic supply tightened further.

The U.S. Energy Information Administration says production averaged 1.032 barrels a day, up 54,000 on the week and 95,000 barrels on the year.

The Renewable Fuels Association says inputs by refiners and blenders and the volume of gasoline supplied to the market were both below the previous week, but above a year ago.

Stocks hit a thirteen week low at 19.847 million barrels, a decline of 84,000 from the week before and 161,000 from this time last year.

The USDA says Midwest ethanol prices were mostly higher last week.

Corn for ethanol use this marketing year is expected to be 5.2 billion bushels, with the next projection out November 9th.

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