By Kirk Maltais

Daily production of ethanol in the U.S. dropped again this week, falling to the lowest that production has been since late April

In its latest weekly report, the Energy Information Administration said daily ethanol production fell to 983,000 barrels per day for the week ended Aug. 12, which is down from 1.02 million barrels the previous week. It's the first time since May that daily ethanol production has been below the 1 million barrels per day mark, and the lowest daily production has been since April.

Inventories rose, meanwhile -- climbing to 23.45 million barrels - which is up from 23.26 million barrels reported last week. Analysts surveyed by Dow Jones this week had forecast stocks to be within 23 million barrels to 23.36 million barrels, and production had been forecast at 1.012 million barrels to 1.037 million barrels.

Corn futures on the CBOT are higher in trading today, fueled in part by a slowed pace of inflation reported by the Labor Department this morning. Most-active corn futures are down 0.1% to nearly $6.10 per bushel.

To see related data, search "U.S. DOE Oil Data: PADD Breakdown" in Dow Jones NewsPlus.

Write to Kirk Maltais at kirk.maltais@wsj.com

(END) Dow Jones Newswires

August 17, 2022 11:09 ET (15:09 GMT)