Ethanol stocks soar to nearly five-year high

In Washington, the Energy Information Administration reports ethanol stocks reached a nearly five year high last week at 27.571 million barrels, up 1.353 million barrels from the week prior as cold temperatures across the country cut ethanol demand. Ethanol production fell slightly, down 3,000 bpd compared to the week prior, at 1.081 million but it was still more than 5% above the 3-year average for the same period. Exports also slipped to 115,000 barrels per day, 23,000 bpd lower than the week before.