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U.S. ethanol stocks hit 8-week high

U.S. ethanol production increased over the past week.

The U.S. Energy Information Administration says production was up 0.8% to 1.12 million barrels per day, equivalent to 47 million gallons daily, which is a record high.

U.S. ethanol stocks hit an 8-week high of 22.9 million barrels. Stocks were up 7% from year-ago levels.

Ethanol exports increased more than 9% to an estimated 158,000 barrels per day, an 11-week high. EIA says it’s been 62 weeks since imports of ethanol were recorded.