Ethanol production and demand rise but so do stocks

In Washington, DTN reports that Energy Information Administration data shows ethanol stocks continued to build last week, reaching 35-week highs at 23.692 million barrels, despite blending rose 4% on the week to 748,000 bpd. Production rose to 941,000 bpd which led to the increased stocks build as production continues to significantly outweigh demand which although higher on the week was still more than 12% below last year’s levels. Stocks did fall in both the West Coast and Gulf Coast regions but builds in the Midwest and East Coast regions were significant.