U.S. Ethanol Production Climbs to Highest in Over 3 Years
By Kirk Maltais
U.S. ethanol production has risen this week, bringing the daily
production rate to its highest in over three years.
In its latest weekly report, the EIA said that U.S. daily
ethanol production through Oct. 22 hit a rate of 1.11 million
barrels a day, up from 1.1 million barrels a day reported last
week. The uptick hits the high-end of estimates from analysts
surveyed by Dow Jones this week, who had expected production to be
anywhere from 1.04 million barrels to 1.11 million barrels a
It's the highest daily ethanol production has been since August
2018, and is propelling corn futures trading on the Chicago Board
of Trade higher this morning--with the most-active contract up 2.8%
at nearly $5.59 per bushel after the report's release. Grain
traders had anticipated Wednesday that ethanol production would
surge thanks to strong margins for producers.
Meanwhile, U.S. ethanol inventories sank this week, with stocks
reported at 19.93 million barrels. Analysts were looking for
inventories to be anywhere from 20.08 million barrels to 20.26
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
October 27, 2021 11:24 ET (15:24 GMT)
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