US Ethanol Inventories Drop
EIA: US Ethanol Production Up 29% Last Week, Down 19.4% Year Over Year
OAKHURST, N.J. (DTN) -- Domestic ethanol inventories declined again last week as demand jumped over 10% while production recouped some of what was lost due to Winter Storm Uri-related issues the prior week, according to the latest data from the Energy Information Administration.
Overall ethanol plant production increased 191,000 barrels per day (bpd), or 29%, in the week profiled to 849,000 bpd while 19.4% lower than the corresponding week in 2020. Four-week average output dropped 213,000 bpd against a year ago to 838,000 bpd.
P[L1] D[0x0] M[300x250] OOP[F] ADUNIT[] T[]
Midwest PADD 2 production also rebounded, up 180,000 bpd to 811,000 bpd, while Gulf Coast PADD 3 output climbed to 10,000 bpd from just 2,000 bpd a week earlier.
Blending activity, a measure of demand, jumped 12.3% or 89,000 bpd to 814,000 bpd in the week profiled, 9.3% below the corresponding week in 2020, data show. Blending activity during the four weeks ended Feb. 26 averaged 778,000 bpd, 114,000 bpd below the comparable year-ago period.
Midwest PADD 2 blending demand rose 17,000 bpd on the week while at the Gulf Coast demand jumped 58,000 bpd. For the four weeks ended Feb. 26, EIA reports PADD 2 blending activity 25,000 bpd below the year prior, while PADD 3 activity was down 24,000 bpd.
At a 12-week low 22.425 million barrels (bbl), total domestic ethanol supply declined 360,000 bbl, 10.4% below the same week a year ago.
EIA reported East Coast PADD 1 fell 183,000 bbl to an eight-week low 7.587 million bbl, 11.6% lower than supply on-hand this time last year while Midwest PADD 2 supply moved off a 12-week low, up 100,000 bbl to 7.390 million bbl, 14% below this time in 2020.
At the Gulf Coast PADD 3, stocks declined 76,000 bbl to 4.840 million bbl, 4.3% higher than last year. Data show West Coast PADD 5 stocks continued lower, down 187,000 bbl to a 35-week low 2.273 million bbl.
(c) Copyright 2021 DTN, LLC. All rights reserved.