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EIA data showed U.S. ethanol output averaged 1.13 million bpd in the week ending November 6, down 13,000 bpd week on week but 5.1% higher than a year earlier. Domestic inventories fell 89,000 barrels to 24.345 million barrels, which is 9.6% above the same week last year, and blending demand eased to 888,000 bpd.
Stocks remain well above last year's level despite the small weekly draw, which limits ethanol price support. Corn demand from ethanol production remains steady.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.