Production of fuel ethanol in the United States continued climbing last week, this time by enough to ease tight ending stocks, according to data released by the U.S. Energy Information Administration on Wednesday, June 9.
Production remained above 1 million barrels per day for the fourth consecutive week, averaging 1,067,000 barrels for the week ending June 4, up more than 3% from 1,034,000 barrels per day the previous week.
Meanwhile weekly U.S. ethanol ending stocks also increased - for the second week in a row - after dipping below 19 million barrels for the week ending May 21, the first time that's happened since December 2016.
A total of 19.960 million barrels were produced last week compared to 19.588 million barrels the week before.
This is an increase of nearly 2% and suggests ending stocks may be on the way to recovery after remaining low the past three months.