Ethanol stocks have swelled for three weeks in a row.
The U.S. Energy Information Administration says ethanol stocks moved to a two-year high last week, hitting 26.416 million barrels, 324,000 above the week before and 1.28 million more than a year ago.
That rise in supply followed a increase in production, which averaged 1.073 million barrels a day, up 19,000 on the week and 70,000 on the year.
Iowa State University’s Center for Agricultural and Rural Development says operating margins for the average Iowa planted firmed up a little, reflecting a modest return.
