U.S. ethanol production hit a record high for the last week of October, according to EIA data analyzed by the Renewable Fuels Association.

For the week ending October 31, ethanol production ramped up 2.9% to a record high of 1.12 million b/d, equivalent to 47.17 million gallons daily. Output was 1.6% higher than the same week last year and 5.3% above the three-year average for the week. The four-week average ethanol production rate increased 1.2% to 1.10 million b/d, equivalent to an annualized rate of 16.91 billion gallons (bg).

Ethanol stocks also increased the same week, up 1.3% to 22.7 million barrels. Stocks were 2.9% more than the same week last year and 4.2% above the three-year average.

Ethanol exports, however, dropped by nearly 39% to an estimated 107,000 b/d (4.5 million gallons/day). It has been more than a year since EIA indicated ethanol was imported.