Ethanol production begins to fall in face of negative crush margins

In Washington, the Energy Information Administration said ethanol producers have begun responding to shrinking crush margins by cutting production last week, falling to an average of 1.055 million gallons per day from 1.061 million bbl/day but consumption was only 875,000 bbl/day, boosting stocks that weigh on prices. Even though consumption was well below production, it rose nearly 40,000 barrels per day on average. Stocks rose to more than 22 million barrels from 21.87 million the week before.