U.S. Ethanol Production Drops More Than Expected
11 August 2022 - 1:13AM
Dow Jones News
By Kirk Maltais
Daily production of ethanol in the U.S. fell back this week,
exceeding the forecasts of analysts surveyed by Dow Jones.
In its latest weekly report, the EIA said that daily ethanol
production fell to 1.022 million barrels per day for the week ended
Aug. 5, which is down from 1.043 million barrels the previous week.
Analysts surveyed this week had forecast production to land
anywhere from 1.03 million barrels to 1.053 million barrels per
day.
Inventories also dropped this week, falling back to 23.26
million barrels - which is down from 23.39 million barrels reported
last week. Analysts had forecast inventories to land anywhere
between 23.09 million barrels and 23.54 million barrels.
Corn futures on the CBOT are higher in trading today, fueled in
part by a slowed pace of inflation reported by the Labor Department
this morning. Most-active corn futures are up 1.3% to nearly $6.22
per bushel.
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
August 10, 2022 10:58 ET (14:58 GMT)
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