By Kirk Maltais

U.S. stocks of ethanol rose as expected this week, hitting their highest level since May 2020.

In its latest weekly report, the EIA said that for the week ended Jan. 21, U.S. ethanol inventories totaled 24.48 million barrels, up from 23.59 million barrels last week. It is the most since May 2020, when inventories were assessed at 25.61 million barrels. Analysts surveyed this week by Dow Jones had forecast inventories to land between 23.7 million barrels and 24.49 million barrels.

Daily production fell for the week, dropping to 1.04 million barrels per day. Analysts had forecast production of 1.01 million barrels to 1.09 million barrels.

Corn futures trading on the Chicago Board of Trade are lower this morning, following wheat down as traders use the stagnation of news out of the Russia-Ukraine border as an opportunity to reap recent profits. The most-active corn contract is down 0.4% currently.

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

January 26, 2022 11:12 ET (16:12 GMT)

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