U.S. spot ethanol prices moved in mixed directions with a downward bias in early trade Wednesday after federal data showed ethanol supplies increased last week while demand fell.
Energy Information Administration reported ethanol inventories edged up 80,000 bbl last week to 15.499 million bbl, up a total of 109,000 bbl during the past two weeks. EIA reported demand fell 6,000 bpd to 851,000 bpd during the week-ended Oct. 18, while domestic production jumped 28,000 bpd or 3.2% to 897,000 bpd, a hike of 96,000 bbl or 11.2% from the year prior level.
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