By Kirk Maltais
Daily production of ethanol in the U.S. is up this week, more than forecast by analysts surveyed this week.
In its weekly report released Wednesday, the EIA said daily production for the week ended September 10 hit a rate of 937,000 barrels per day, up from 923,000 barrels per day in last week's report and more than analyst expectations for production.
Meanwhile, ethanol stockpiles fell for the seventh consecutive week, falling to 20.01 million barrels, down from 20.39 million barrels the previous week. Analysts had forecast supply to be anywhere from 20.09 million barrels to 21.1 million barrels.
Corn futures are higher in trading Wednesday, with the most-active futures contract up 1.6% to nearly $5.29 per bushel today.
To see related data, search "U.S. DOE Oil Data: PADD Breakdown" in Dow Jones NewsPlus.
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