Ethanol stocks back near one-year high

In Washington, Dow Jones reports Energy Information Administration data shows ethanol production fell to its lowest level since early October at 1.01 million barrels per day which in turn pushed stocks to their highest in nearly a year at 22.91 million barrels. Analysts expected stocks to be between 21.11 million barrels to 22.06 million barrels while production was seen at between 1.03 million barrels to 1.05 million barrels per day. High corn futures prices have squeezed margins, forcing ethanol producers to pull back from record level production runs.