June 8, 2011 / 4:47 PM / 8 years ago

UPDATE 1-US ethanol production climbs to 915,000 bpd-EIA

 * U.S. ethanol production climbs 6,000 bpd in last week
 * U.S. weekly ethanol stocks off 583,000 bbls to 19.64 mln
 (Adds link to graphic)
 KANSAS CITY, June 8 (Reuters) - U.S. ethanol production
rose to the highest level since late January in the latest
reporting week, even as stocks dropped to their lowest in six
weeks, the government said on Wednesday.
 Ethanol output totaled 915,000 barrels per day (bpd) for
the week ended June 3, up 6,000 bpd from the prior week, the
Energy Information Administration said.
 Graphic of weekly ethanol production:
 Ethanol stocks fell 583,000 barrels to 19.64 million
barrels, according to the EIA's weekly petroleum report.
 Corn use for ethanol continues to lag the U.S. Department
of Agriculture's forecast for 5 billion bushels needed this
marketing year. Last week 96.075 million bushels were used but
they would need to average more than 103 million bushels per
week to hit the USDA forecast.
 Corn prices remain high, rising above $7.58 for the nearby
contract on the Chicago Board of Trade on Wednesday in tandem
with a rally in oil prices.
 (Reporting by Carey Gillam; Editing by Sofina Mirza-Reid)

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