NEW YORK (DTN) -- The Energy Information Administration released data on Wednesday showing domestic ethanol inventories surged to a 2-1/2 year high while implied demand and production by plants nationwide declined.
The data showed total stockpiles increased for the sixth straight week, up 400,000 barrels (bbl), or 1.7%, to 21.0 million bbl during the week-ended Jan. 30. That's the most stocks in storage since the week-ended June 15, 2012.
Total supplies are 4.2 million, or 25.4%, higher than the level seen a year ago.
Regionally, PADD 1 East Coast stockpiles climbed 200,000 bbl to 7.4 million bbl while tanks in ...