US ethanol production up, corn prices tumble, as bumper crop hopes grow

In Washington, the Energy Information Agency says that ethanol production rose 1.7% in the past week to 919,000 bpd while stocks rose 3.7% to 21.4 million barrels. At the same time, ethanol futures in Chicago fell by 3.7%, the most in four months, as corn prices fell 5.7% on the expectation that rains will boost corn supplies.