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Ethanol production, stocks up on week

 

U.S. ethanol production and stocks both increased last week.

The U.S. Energy Information Administration says production averaged 1.057 million barrels a day, up 13,000 on the week.

Profit margins at many plants tightened as corn prices firmed and there are uncertainties about the Renewable Fuel Standard, but the industry expects continued solid demand and production tends to increase ahead of the switch to summer fuel blends.

Stocks climbed 165,000 barrels to 23.144 million.