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Ethanol production, stocks down on week

U.S. ethanol production and stocks dropped last week.

The U.S. Energy Information Administration says production averaged 1.009 million barrels a day, the second lowest average this year and down 25,000 from the previous week, but still enough to meet the USDA’s projected corn for ethanol use. Production has held above a million barrels a week for 15 weeks in a row, despite uncertainties about White House policy and concerns about waivers given to oil refiners.

Stocks were down 502,000 barrels on the week and 1.69 million on the year at 21.344 million barrels, the lowest since the week of October 20, 2017.