US ethanol production drops 3.5% but inventories up

13 July 2011 19:57  [Source: ICIS news]

HOUSTON (ICIS)--US ethanol production fell by 3.5% in the first week of July, while inventories showed a small increase, the US Energy Information Administration (EIA) said on Wednesday.

Ethanol stocks stood at 18.77m bbl in the week ended 8 July, up by 1.2% from 18.55m bbl in the previous week.

Meanwhile, ethanol production totalled 872,000 bbl/day, down from 904,000 bbl/day in the week ended 1 July, the EIA said.

US ethanol output in June averaged 898,600 bbl/day, a 0.6% increase from 893,250 bbl/day in May, according to government data.

Ethanol for August rose by 2.5% on Wednesday to $2.84/gal (€2.02/gal) at the Chicago Board of Trade, lifted by sharp gains in the corn market.

US weekly ethanol inventories – m bbl (EIA)
8 July	1 July	24 June	17 June	10 June
18.77	18.55	19.48	19.51	19.75

 

($1 = €0.71)

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By: William Lemos
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