By Kirk Maltais
U.S. ethanol production has risen again this week, although not beating the all-time record for daily production.
In its latest weekly report, the EIA said U.S. daily ethanol production through October 29 rose 1,000 barrels per day, placing daily production at 1.107 million barrels for the week.
It's the second-highest daily production figure ever, beaten only by 1.108 million barrels in December 2017. Analysts surveyed by Dow Jones this week forecast production to be anywhere from 1.08 million barrels to 1.12 million barrels.
U.S. ethanol inventories also rose this week, with stocks reported at 20.13 million barrels. Analysts were looking for inventories to be 19 million barrels to 19.94 million barrels. "Ethanol stocks are [the] highest since late September and are 2.3% above around this time year ago," said Terry Reilly, senior agriculture futures analyst with Futures International LLC.
Corn futures trading on the Chicago Board of Trade are down in trading Wednesday, with the most-active contract down 1.5% to roughly $5.64 per 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
11-03-21 1122ET
