U.S. ethanol production rose 0.3 percent to an average of 1.074 million barrels a day during the week ending Oct. 10, according to the EIA’s weekly petroleum status report. Volumes were below the average trade guess of 1.079 million barrels but came within the range of estimates. 

Output rebounded this month after falling to multi-month lows in September. Additionally, production was higher than the 1.042 million barrels a day produced the same week last year. Low corn prices and higher supplies are expected to keep ethanol production above the five-year average for the short term. 

Ethanol inventories fell 0.4 percent last week to 22.63 million barrels. Stocks stood above year-ago level last week despite the decline. 

Implied gasoline demand has been losing steam heading through the beginning of the fourth quarter. Demand on a four-week average is undergoing a seasonal decline but also losing ground compared to a year ago. 

U.S. ethanol exports fell to 108,000 barrels a day, down from 138,000 barrels the previous week. Shipments fell back below the four-week average after posting a stronger print the previous week. 

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