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Ethanol stocks hit 53-week high

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U.S. ethanol stocks hit a more than one-year high last week.

The U.S. Energy Information Administration says the domestic supply of 26.092 million barrels was a 53-week high, up 83,000 on the week and 565,000 on the year, with the Midwest stockpile at its second largest weekly total on record.

That build is partially due to demand not rising to the level of production.

The Renewable Fuels Association says net inputs of ethanol purchased by refiners and blenders and the volume of gasoline supplied to the market were both down from the previous week.

Ethanol stocks hit 53-week high