U.S. Ethanol Production Drops More Than Expected

Source: By Kirk Maltais, Wall Street Journal • Posted: Thursday, August 26, 2021

Daily production of ethanol in the U.S. sank to its lowest level since March, more than expected by analysts surveyed by Dow Jones.

In its weekly report released Wednesday, the EIA said that U.S. ethanol production is at 933,000 barrels per day for the week ended Aug. 20, a 40,000 barrel-per-day decrease from last week.

Inventories also fell this week, dropping 335,000 barrels to 21.22 million barrels. The decline is within the range forecast by analysts, who had forecast inventories within 21 million barrels and 22.35 million barrels this week.

Corn futures are higher in trading Wednesday. The most-active futures contract is up 0.5%, to over $5.48 per bushel.

Write to Kirk Maltais at kirk.maltais@wsj.com