Ethanol demand jumps to seven-week high while stocks start to drop

In Washington, DTN reports that Energy Information Administration data shows that ethanol blending demand grew over the past week to a seven-week high, posting the first draw down on stocks nationally in three weeks to 23.897 million bbl, down 233,000 bbl from the week prior. Even so, stocks were still 14% higher on the year. Contrary to past weeks, all regions dropped stock levels except for Gulf Coast region that gained. Production for the week was slightly higher than the prior week but still 1.4% lower than the year prior.