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Ethanol production hits multi-month low

U.S. ethanol production and stocks declined last week.

The U.S. Energy Information Administration says production averaged 1.023 million barrels a day, down 22,000 on the week, the lowest weekly average since April as the industry struggles with margins and EPA policy on exemption waivers for smaller oil refiners.

Most of the weekly decline was in the Midwestern reporting region.

Stocks were down 516,000 barrels on the week at 23.367 million.

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