Margins favor more ethanol production
U.S. ethanol production rose 2.1% to 875,000 barrels a day in the week through Friday, continuing the prior week's trend, data from the U.S. Energy Information Administration showed Wednesday.
Ethanol producers struggled with low margins for much of last year and early this year, pushing output levels lower. But output recovered after a drop in corn prices at the end of March, and some ethanol plants that were idled have now resumed operation.
U.S. ethanol stocks last week fell 0.2% to 16.2 million barrels from 16.4 million barrels the prior week, continuing a recent decline.
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(END) Dow Jones Newswires
May 22, 2013 11:07 ET (15:07 GMT)