U.S. ethanol production declined last week, while stocks hit multi-month highs.
The U.S. Energy Information Administration says production averaged 1.033 million barrels a day, down 34,000 from the previous week, with some downtime because of Independence Day. That’s the lowest average since the week ending May 18th.
The domestic supply was up 418,000 barrels to 22.393 million, the highest total since the week ending March 30th.
The USDA’s updated corn for ethanol use estimate is out Thursday.