Prices for U.S. ethanol fell to the lowest levels in 13 years on Wednesday, pressured by bigger-than-expected output and larger supplies of the corn-based biofuel, traders said.
Reuters reports weekly U.S. Energy Information Administration data showed that ethanol production last week was up 6,000 barrels per day, to an average of 1.048 million bpd while stockpiles increased 139,000 barrels to 22.93 million barrels.
Excessive supplies and heavy selling in the Chicago market have weighed on ethanol prices for much of 2018.
