By George Owel
DTN Refined Fuels Reporter
Spot ethanol prices were talked flat to lower in early trade Wednesday, coming under pressure from federal data showing ethanol inventories rose last week to a better than six months high.
The Energy Information Administration this morning reported an 810,000 bbl or 4.0% hike in ethanol inventories to 20.838 million bbl for the week-ended Dec. 14, marking an 18% increase versus the year-ago level. Since the week-ended Nov. 30, U.S. ethanol inventories have increased by a total of 2.497 million bbl. Meanwhile, implied demand was up 24,000 to 823,000 bpd for the week-ended Dec. 14.
George Orwel can be reached at firstname.lastname@example.org.