U.S. ethanol production declined last week, while stocks moved slightly higher.

The U.S. Energy Information Administration says ethanol production averaged 931,000 a day, down 27,000 on the week and 109,000 below a year ago because of tighter margins and continued concerns about demand caused by COVID-19.

Blending demand and the amount of gasoline supplied to the market were also below the previous week’s levels.

Stocks were up 74,000 barrels at 20.346 million, which is about 2.771 million lower than last year.

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