U.S. ethanol stocks climbed to multi-month highs last week.
The U.S. Energy Information Administration said the domestic supply of ethanol was 23.579 million barrels, the largest since mid-April and an increase of 62,000 on the week, but a decrease of 865,000 on the year.
That week-to-week jump in supply was due to a combination of factors including a short-term seasonal dip in production and slower demand.
Production last week averaged 1.049 million barrels a day, a decline of 58,000 from the previous week, but a rise of 205,000 from last year.
