Ethanol output bounces back
U.S. ethanol production rose 2.5% to 853,000 barrels a day in the week through last Friday, rising after a decline the prior week, data from the U.S. Energy Information Administration showed Wednesday.
The weekly output level approached the 854,000 barrels a day that were reported two weeks earlier, for the week through April 5, which was the highest since June last year. Production recovered after a drop in corn prices at the end of March.
U.S. ethanol stocks last week rose 0.5% to 17.6 million barrels from 17.5 million barrels the prior week, the EIA data showed.
Poet LLC, the second-largest U.S. ethanol producer by production capacity, last week resumed ethanol production at an ethanol plant in Macon, Mo., where it had suspended operations in early February due mainly to a lack of available corn after last year's severe drought.
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(END) Dow Jones Newswires
April 24, 2013 10:47 ET (14:47 GMT)
DJ Weekly U.S. Ethanol Output Rises 2.5%; Stockpiles Rise 0.5%->copyright