US ethanol production currently posting lower figures

A report by the US Energy Information Administration (EIA) has put ethanol production down 1.2% to put overall output to its lowest level in three weeks.

It shows that output fell in the second of those weeks, put at 873,000 barrels a day, the first consecutive declines since early March. Inventories, however, did increase 2.9% to 16.5 million barrels and represents the biggest gain since last December.

Other EIA data shows US imports of biofuels went from zero to 65,000 barrels the prior two weeks, the most the US has purchased since mid-January, and ethanol-blended petrol fell 0.4% to 93.6% of the total US petrol pool during last week.