By Kirk Maltais


U.S. ethanol production has turned higher this week, going against analyst expectations calling for a slide in daily production.

In its latest weekly report, the U.S. Energy Information Administration said daily ethanol production for the week ended Jan. 27 averaged 1.028 million barrels a day, up from 1.012 million barrels a day last week. Analysts surveyed by Dow Jones had forecast production at a range of 990,000 barrels a day to 1.012 million barrels a day.

Inventories sank for the week, defying analyst expectations. The EIA reported inventories at 24.44 million barrels, down from 25.08 million barrels last week. Analysts had expected inventories to land anywhere from 24 million barrels to 25.45 million barrels.

Most-active corn futures on the CBOT are lower in trading, with the most-active contract down 0.5% to $6.76 a bushel.


To see related data, search "U.S. DOE Oil Data: PADD Breakdown" in Dow Jones NewsPlus.


Write to Kirk Maltais at kirk.maltais@wsj.com


(END) Dow Jones Newswires

02-01-23 1102ET