U.S. Ethanol Stocks Extend Climb

By Kirk Maltais

Inventories of U.S. ethanol rose for the fifth consecutive week, according to government data - with the uptick exceeding estimates of analysts.

In a weekly report from the U.S. Energy Information Administration, U.S. ethanol inventories rose 518,000 barrels to 21.1 million barrels per day for the week ended June 18. Analysts surveyed by Dow Jones this week had forecast stocks to rise to anywhere between 20.65 million barrels and 21 million barrels.

Production also rose, slightly exceeding analyst expectations. Production hit a rate of 1.048 million barrels per day this week, up 23,000 barrels per day from last week. Traders had expected production to be anywhere from 1.025 million barrels to 1.045 million barrels.

In trading Wednesday, most-active corn futures on the Chicago Board of Trade are up, trading 0.5% higher at $6.63 per bushel.

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

Write to Kirk Maltais at [e-mail]

(END) Dow Jones Newswires

06-23-21 1105ET