By Kirk Maltais
U.S. ethanol inventories fell slightly from the previous week, landing on the low side of analyst forecasts for the week.
In its latest weekly report, the Energy Information Administration said that for the week ended June 5, ethanol stocks totaled 24.45 million barrels. That's down 154,000 barrels from the prior week. Analysts surveyed by Dow Jones had forecast stocks to land between 24.4 million barrels and 24.81 million barrels.
Average daily production was unchanged from the prior week, at 1.108 million barrels a day. Surveyed analysts had forecast production between 1.1 million barrels a day and 1.125 million barrels a day.
Most-active CBOT corn futures are up 0.2% Wednesday, to $4.21 a bushel. Analysts say short-covering is taking place heading into Thursday's World Agricultural Supply and Demand Estimates report from the U.S. Department of Agriculture. "The market has [shorted] the market in technically oversold territory as we head into tomorrow's WASDE," said Phil Flynn, a senior analyst with Price Futures Group in a note.
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
06-10-26 1122ET
