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Ethanol production, stocks down on week

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

The U.S. Energy Information Administration says production averaged 913,000 barrels a day, down 24,000 on the week and 83,000 on the year as plants continue to cut back production because of concerns about blending demand caused by COVID-19.

The Renewable Fuels Association says net blender inputs and the amount of gasoline supplied to the market also posted week to week declines and remain well below a year ago.

Stocks tightened by 287,000 barrels to 19.721 million, which is 1.643 million barrels below last year and close to a four-year low because of reduced production.

The Renewable Fuels Association says there were no ethanol imports recorded last week.

The USDA’s next corn for ethanol use estimate is out November 10th.

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