EIA: Ethanol Stocks Mostly Unchanged

WASHINGTON (DTN) -- Ethanol supply in the United States moved fractionally lower in the week ended May 31, while production and blending demand fell to the lowest level in nearly a month, according to data released Wednesday, June 5, by the Energy Information Administration.

Data shows domestic ethanol supply dipped 71,000 barrels (bbl) last week to 22.553 million bbl, although still holding a 3.2% surplus against the same week a year ago. Regionally, East Coast PADD 1 ethanol stocks fell 14,000 bbl to 7.255 million bbl in the week ended May 31, while holding a 2.8% surplus against a year ago. PADD 2 Midwest ethanol inventories built up 315,000 bbl to 8.295 million bbl, 5.1% higher than the corresponding week in 2018. Data showed Gulf Coast PADD 3 ethanol supply plunged 377,000 bbl to 4.156 million bbl, pressing stockpiles to a six-week low. West Coast PADD V stocks rose for a fourth week, edging up 10,000 bbl to 11-week high at 2.458 million bbl.

EIA reported ethanol plant production fell 13,000 barrels per day (bpd) to 1.044 million bpd, the lowest level since the week ended May 3. According to the data, current ethanol output is 0.3% higher compared to the same week a year ago. Data also showed four-week average output at 1.056 million bpd, up 14,000 bpd from the same four-week period a year ago.

Blending demand slipped, with refiner and blending net inputs of ethanol down 17,000 bpd in the week ended May 31 at 931,000 bpd, while still 3.3% higher than the corresponding week last year. During the four weeks ended May 31, blending demand averaged 946,000 bpd, 14,000 bpd higher than the same four weeks in 2018.

(BM/AG)

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