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Ethanol production hit by holiday week slowdown
U.S. ethanol production declined over the past week as some plants idled for Thanksgiving.
The U.S. Energy Information Administration says production averaged 1.073 million barrels per day, down 46,000 from the prior week’s all-time high and 3,000 under a year ago.
The domestic ethanol supply grew for the fifth week in a row, totaling 23 million barrels, an increase of 134,000 on the week and 1.564 million on the year.
The Renewable Fuels Association says net inputs of ethanol purchased by refiners and blenders fell to its lowest level since March, while the volume of gasoline supplied to the market moved higher.
Ethanol exports averaged 126,000 barrels a day, 32,000 less than last week, but 48,000 more than last year.
The USDA’s updated corn for ethanol use estimate is out December 10th.
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