EIA: Ethanol Demand Down

By DTN Staff

OAKHURST, N.J. (DTN) -- Ethanol inventory in the United States edged slightly lower during the second week of July as demand for the fuel slid over 3% and production climbed to the highest level in 16 weeks, according to the Energy Information Administration.

At 20.608 million barrels (bbl), domestic ethanol stocks eased 12,000 bbl week on week while at a 12% year-over-year supply deficit.

During the period profiled, blending activity dropped 3.6%, with EIA reporting a 31,000-barrel-per-day (bpd) drop in net refiner and blender ethanol inputs to 819,000 bpd. Blending activity during the four weeks ended July 10 averaged 832,000 bpd, 106,000 bpd below the comparable year-ago period.

Ethanol plant production continued higher, up 17,000 bpd in the week profiled to 931,000 bpd, the highest level since the week ended March 20 while down 135,000 bpd or 12.7% against a year ago. Four-week average output is down 156,000 bpd against a year ago at 910,000 bpd.

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