Ethanol production reaches three-year high

In Washington, Dow Jones reports that Energy Information Administration data shows ethanol production reached 1.11 million barrels per day last week, the highest seen in three years. Despite rising ethanol production volumes, stocks fell to 19.93 million barrels, below estimates of between 20.08 million barrels to 20.26 million barrels. With strong margins for ethanol producers, corn ethanol futures have been rising on expected increased demand for further processing to take advantage of the high returns.