U.S. ethanol production moved lower last week as stocks grew.
The U.S. Energy Information Administration says production averaged 1.039 million barrels a day, down 32,000 from the previous week’s near-six month high and 28,000 barrels lower than a year ago.
The Renewable Fuels Association says net inputs by refiners and blenders were a five-week low, falling 2.7% from the prior week, while the volume of gasoline supply rose 2.5% to the largest volume so far this year as retailers bolstered their supplies after Memorial Day weekend.
