São Paulo, 9 – The average production of ethanol in the United States was 1.028 million barrels per day in the week ended March 4th. The volume represents an increase of 3.1% compared to the previous week, of 997 thousand barrels per day. Biofuel inventories increased 1.6% to 25.3 million barrels.
The figures were released this Wednesday, 9, by the country’s Energy Information Administration (EIA).
Analysts consulted by Dow Jones Newswires expected production between 977,000 and 1.01 million barrels per day. As for inventories, estimates ranged from 24.533 million to 24.870 million barrels.
US ethanol production figures are an important indicator of domestic demand for corn.
In the country, biofuel is made mainly from the grain and the local industry consumes more than a third of the domestic crop of the cereal.
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