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Another big week for ethanol production

 

U.S. ethanol production backed off a little last week, but remains near historic highs.

The U.S. Energy Information Administration says production averaged 1.089 million barrels per day, down 19,000 from the previous week’s record high of 1.108 million and the second largest weekly average on record. Production has averaged more than a million barrels a day every week since late September, supported by demand expectations and readily available corn, despite some uncertainties about Trump administration policies towards renewable fuels.

Tuesday, the USDA raised its corn for ethanol and soybean oil for biodiesel use estimates.

Stocks were down 170,000 barrels on the week at 22.374 million barrels.