Ethanol stocks reach four-month high

In Washington, DTN reports Energy Information Administration data shows ethanol production rose to the highest level seen in 18 weeks help to build stocks to the highest seen in four months. Production was at 958,000 bpd while stocks stood at 20.3 million barrels the end of last week. Ethanol production remains down more than 7% on the year despite last week’s increase from a 3.5 year low. The market is still trying to find the “new normal” that will keep margins at a reasonable level.