After falling to its lowest per-day output level in 2011, you might think that ethanol production would rebound. Well, that's not the case as U.S. ethanol production dipped again last week while as export demand depleted stocks by nearly three percent.

According to the Energy Information Administration, U.S. ethanol output totaled 860,000 barrels per day in the seven days leading up to October 7, down some 3,000 barrels per day from the previous week.

Corn is getting mighty scarce at some U.S. facilities and that's likely the reason for the dip in output, but with export demand on the rise, the U.S.' ethanol producers surely wish there were more ears of corn on the stalks.

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