U.S. Ethanol Production Declines, Defying Analysts
By Kirk Maltais
U.S. production of ethanol took a dive in the past week,
according to government data, running counter to analyst forecasts
and expectations that U.S. consumers will consume a growing amount
In a weekly report from the U.S. Energy Information
Administration, U.S. ethanol production fell 42,000 barrels per day
to 1.025 million barrels per day for the week ended June 11.
Analysts surveyed by Dow Jones this week had forecast production to
rise for a fourth straight week.
Meanwhile, ending inventories of U.S. ethanol jumped this week,
more than expected by analysts. Stocks rose 642,000 barrels to 20.6
million barrels. Analysts surveyed had forecast stocks to rise to a
maximum of 20.56 million barrels.
Most-active corn futures trading on the Chicago Board of Trade
are higher in trading Wednesday, with the contract up 2.4% to over
$6.83 per bushel.
To see related data, search "U.S. DOE Oil Data: PADD Breakdown"
in Dow Jones NewsPlus.
Write to Kirk Maltais at email@example.com
(END) Dow Jones Newswires
June 16, 2021 11:10 ET (15:10 GMT)
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