Ethanol Stocks Hit Record High
NEW YORK (DTN) -- The Energy Information Administration showed in supply data released Wednesday, Jan. 24, a buildup in U.S. ethanol stocks continued last week, reporting a 1.1 million barrel (bbl), or 4.8%, spike in domestic inventory for the week-ended Jan. 19 to a record high of 23.8 million bbl.
The increase was the fourth straight weekly stock build, with inventory 2.1 million bbl, or 9.7%, higher than year ago.
P[L1] D[0x0] M[300x250] OOP[F] ADUNIT[] T[]
Stocks rose across all regional PADDs, with PADD 1 East Coast up 400,000 bbl, or 5.7%, to 7.4 million bbl and PADD 2 Midwest posting a 300,000 bbl, or 3.7%, increase to an 8.4 million bbl 10-month high. PADD 3 Gulf Coast also saw its supply climb 300,000 bbl, or 6.7%, to a 4.8 million bbl record high. Stock levels in PADDs 4 and 5 Rocky Mountain and West Coast were up 100,000 bbl each to 400,000 bbl and 2.9 million bbl, respectively.
Domestic plant production was little changed, up 1,000 barrels per day (bpd) to 1.062 million bpd last week. Compared with a year ago, plant output was up 11,000 bpd, or 1.0%. For the four weeks ended Jan. 19, production averaged 1.038 million bpd, down 11,000 bpd, or 1.1%, versus year ago.
Net refiner and blender inputs, a measure for ethanol demand, dropped 30,000 bpd, or 3.5%, last week to 826,000 bpd. Compared to a year ago, blending demand was down 7,000 bpd, or 0.8%. For the four-week period ended Jan. 19, blending demand averaged 833,000 bpd, up 2,000 bpd versus a year ago.
(AG)
Copyright 2018 DTN/The Progressive Farmer. All rights reserved.