Ethanol stocks nearing one-year high

In Washington, Brownfield Ag News reports Energy Information Administration data shows ethanol stocks have soared to nearly a one-year high at 26.022 million barrels last week despite an increase in purchases from refiners and blenders, supplying more blended gasoline to the market than the week prior. Production fell slightly from the week prior but was still 75,000 bpd higher than the same time last year at 1.078 million barrels a day. Ethanol exports slipped last week to 77,000 barrels a day, but even amidst the situation, ethanol plants appear to be running profitable crushing margins.