Ethanol Inventories Hit Five-Month High

The Energy Information Administration said ethanol production declined week to week while inventories rose to the highest level in five months during the week ending on January 2nd.

Ethanol production dropped to an average of 1.098 million barrels a day, down from 1.12 million barrels a day during the previous week.  In the Midwest was the only region to see a decrease in production, dropping to an average of 1.041 million barrels a day from 1.063 million.

Every other region nationwide was unchanged during the week of New Year's Day.  Gulf Coast production was unchanged at 26,000 barrels a day,  East Coast and Rocky Mountain output held at 11,000 barrels, and West Coast production remained at 9,000 barrels for a second-straight week.

In its report, the agency said ethanol stockpiles, meanwhile, jumped to 23.652 million barrels last week, the highest level since August 1.

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