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New all-time high for average daily ethanol production

 

U.S. ethanol production last week shattered the previous record, averaging 1.108 million barrels per day. That previous record of 1.074 million barrels was set the week before Thanksgiving.

Corn is readily available and relatively inexpensive, and the industry was encouraged by the EPA’s recent decision to hold the ethanol obligation for the Renewable Fuel Standard at 15 billion gallons.

The U.S. Energy Information Administration says stocks jumped 500,000 barrels on the week to 22.544 million, a near six month high.