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Ethanol exports decline, stocks nudge higher

U.S. ethanol exports hit a 14-week low last week.

The U.S. Energy Information Administration says exports were estimated at 89,000 barrels per day, down 26.4% or 3.7 million gallons per day.

Ethanol production averaged 1.08 million barrels per day, up half a percentage point on the week. The four-week average ethanol production rate fell 0.2% to an annualized rate of 16.56 billion gallons.

U.S ethanol stocks nudged fractionally higher to 22.6 million barrels, but were down more than 3% from the same week last year.

The volume of gasoline supplied to the U.S. market, which is a measure of implied demand, fell 1.3% to 9.12 million barrels per day.