Ethanol production near record levels

U.S. ethanol production surged to historically high levels last week as cash corn prices moved lower in parts of the region and margins improved.

The U.S. Energy Information Administration says production averaged 1.096 million barrels a day, tied for the third highest weekly average on record, a jump of 64,000 barrels on the week and 183,000 on the year.

The Renewable Fuels Association says the net inputs for refiners and blenders were fractionally lower than the previous week, while the volume of gasoline was sharply higher and both remained above year ago levels.

The domestic supply was up for the first time this month at 20.08 million barrels, an increase of 233,000 from the week before and 359,000 from last year.

The USDA says Midwest ethanol prices were mixed last week.

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