U.S. ethanol production and stocks both moved modestly higher last week.

The U.S. Energy Information Administration says production averaged 1.107 million barrels a day, the second highest average on record, and an increase of 1,000 barrels on the week and 56,000 on the year.

The high of 1.108 million barrels a day was set in early December 2017.

Margins have improved recently and plant capacity is reportedly around 97%.

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