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Ethanol production, supply dip, stay above a year ago

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

The U.S. Energy Information Administration says production averaged 1.013 million barrels a day, down 1,000 on the week, but up 83,000 on the year, when many plants were limiting production due to slow demand.

Stocks of 22.649 million barrels were 84,000 less than the previous week, but 2.303 million more than a year ago.

The Renewable Fuels Association says implied U.S. gasoline demand hit a four-week high and net inputs by ethanol refiners and blenders were fractionally higher, with both well above last year’s levels.

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

The USDA’s next corn for ethanol use estimate is out Thursday, August 12th in the monthly supply and demand update.

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