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U.S. ethanol stocks climb

U.S. ethanol production was unchanged last week, while supplies notched new multi-week highs.

The U.S. Energy Information Administration says domestic production averaged 1.046 million barrels per day, steady on the week and below the four-week average of 1.053 million barrels.

Production has pulled back recently because of negative plant margins, but the industry is watching for new export demand from China and waiting for details on year-round E15 availability.

Stocks were up 983,000 barrels on the week 23.873 million, the largest supply since mid-October and considerably larger than this time last year.

The Renewable Fuels Association says most of that build was on the Gulf Coast, which could be a sign of export shipments ahead of the holidays.