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EIA: Ethanol Stocks Slide

Ethanol Stocks Down 2M Barrels to Two-Year Low

CRANBURY, N.J. (DTN) -- Ethanol inventory in the United States was drawn down 2 million barrels (bbl) to a 21.2 million bbl two-year low during the week-ended Oct. 4, the Energy Information Administration reported on Wednesday, Oct. 9. That was 2.8 million bbl, or 11.7%, below a year ago.

The steep draw came despite a small decline in blending activity and as domestic plant production edged higher.

Ethanol stock levels declined in all PADDs except PADD 4 Rocky Mountains where they were flat at 300,000 bbl.

PADD 3 Gulf Coast inventory dropped 800,000 bbl to 4.3 million bbl during the profiled week, 400,000 bbl below year ago, while PADD 1 stocks fell 600,000 bbl to 6.9 million bbl, 1.2 million bbl less than the same week in 2018. PADD 5 West Coast inventory declined 100,000 bbl to 3 million bbl, flat year on year.

In the producer PADD 2 region, ethanol inventory was drawn down 500,000 bbl to 6.7 million bbl, 1.1 million bbl below a year ago.

Ethanol output at U.S. plants edged up 5,000 barrels per day (bpd) to 963,000 bpd during the profiled week, with output in the Midwest at 890,000 bpd. Compared with a year ago, plant production is down 77,000 bpd, or 7.4%. During the four weeks ended Oct. 4, plant production averaged 967,000 bpd, 69,000 bpd, or 6.7%, below the comparable output rate a year ago.

Refiner and blender net ethanol inputs eased 6,000 bpd to 917,000 bpd, while 4,000 bpd above year ago. During the four weeks ended Oct. 4, blending demand averaged 920,000 bpd, up 5,000 bpd against the corresponding period in 2018.

(BM/AG)

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