U.S. ethanol production fell to a five-week low last week, while output remained above year-ago and five-year average levels. The Renewable Fuels Association, analyzing Energy Information Administration data, says production for the week ending August 14 dropped 2.5 percent to 1.09 million barrels per day, or 45.74 million gallons daily. That was 1.6 percent above the same week last year and six percent above the five-year average. Ethanol inventories increased 1.3 percent to 25.1 million barrels, reaching their highest level since early May. Stocks were more than ten percent above both year-ago and five-year average levels. Gasoline supplied to the U.S. market fell 3.1 percent to an 11-week low of 8.69 million barrels per day, suggesting weaker demand. Meanwhile, refiner and blender ethanol inputs rose 1.2 percent to 926,000 barrels per day. Ethanol exports jumped 18.3 percent to 129,000 barrels per day.
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