NEW YORK (DTN) -- Ethanol inventories were drawn down last week, with domestic production also lower but implied demand rose to a record high, according to data release Wednesday by the Energy Information Administration.
The data showed total inventories fell 100,000 bbl or 0.3% to 21.1 million bbl for the week-ended June 17, with a year-over-year surplus at 1.3 million bbl or 6.4%.
Plant production fell 51,000 bpd or 5.0% last week to 962,000 bpd while 3.2% lower year-over-year.
Blender inputs, a proxy for ethanol demand, increased by 6,000 bpd or 0.65% to 928,000 bpd for the week, while up 2.9% year-over-year.
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