EIA: US Ethanol Stocks Fall
Ethanol Production at 6-Month Low; Stocks at 11-Week Low
OAKHURST, N.J. (DTN) -- Domestic inventory of ethanol was drawn down for a fifth consecutive week through Aug. 27 as production dropped an eighth straight week, sliding to the lowest level since the end of February, the Energy Information Administration reported Wednesday morning.
Data show production tumbled 28,000 barrels per day (bpd) or 3% in the week reviewed to 905,000 bpd, sinking 162,000 bpd since the downtrend began in July.
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Midwest PADD 2 plant production also dropped an eighth consecutive week to 851,000 bpd, sliding 30,000 bpd on the week. PADD 2 output also marked the lowest production rate since the final week of February.
Total ethanol inventories declined 113,000 barrels (bbl) to an 11-week low 21.110 million bbl as of Aug. 27, 1% more than the same time in 2020.
East Coast PADD 1 ethanol inventories decreased for the first time in three weeks, down 120,000 bbl to 6.953 million bbl while Midwest PADD 2 stocks posted a fourth straight weekly draw, down 96,000 bbl to an eight-week low 7.703 million bbl.
West Coast PADD 5 supply held higher, up 238,000 bbl to 3.145 million bbl and at the Gulf Coast PADD 3, stocks fell 129,000 bbl to 2.934 million bbl week. The fourth straight weekly build left socks at the lowest level since the end of November 2014.
Blending activity held at 926,000 bpd, 7.5% above the same time in 2021. Blending activity during the four weeks ended Aug. 27 averaged 926,000 bpd.
Midwest PADD 2 blending rose 4,000 bpd in the period profiled while at the Gulf Coast demand was unchanged. For the four weeks ended Aug. 27, EIA reports PADD 2 blending activity was at 256,000 bpd while PADD 3 net inputs were 151,000 bpd.
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