U.S. ethanol production declined last week.
The U.S. Energy Information Administration says production hit a five-week low, averaging 1.011 million barrels a day, a decrease of 40,000 on the week and 49,000 on the year.
That could be due to a few different factors, including demand concerns linked to relatively high gasoline prices.
The decline was not due to margins, with Iowa State University’s Central for Agricultural and Rural Development reporting operating margins in Iowa are near the highs of the year.
