WASHINGTON (DTN) -- Energy Information Administration data once again detailed higher domestic ethanol stocks, posting the second consecutive gain to reach a three-week high while production edged off fractionally from a nine-week high.
Total domestic ethanol inventories increased 300,000 barrels (bbl) in the week ended Nov. 9 to 23.5 million bbl, which is 9.3% higher than the corresponding week in 2017.
Data showed ethanol stocks at the East Coast PADD 1 increased by 300,000 bbl to 7.8 million bbl, a 9.9% year-over-year supply surplus. At the Midwest PADD 2, stockpiles shifted 100,000 bbl lower to 7.5 million bbl, 3.8% lower than inventory on-hand last year. Gulf Coast PADD 3 stocks posted a 200,000 bbl gain to 4.7 million bbl, which is still a sharp 38.2% above a year ago. West Coast PADD V ethanol inventories stayed flat at 3.2 million bbl, a steep 14.3% increase from the last year.
Plant production decreased by a modest 1,000 barrels per day (bpd) to 1.067 million bpd, the first weekly decline in four weeks, during the week ended Nov. 9, while 1.2% higher than the corresponding week in 2017. Four-week averaged production was 1.055 million bpd versus 1.052 million bpd during the corresponding four week period in 2017.
Net refiner and blender inputs, a measure for ethanol demand, gained for the first time in three weeks, up 9,000 bpd to 926,000 bpd during the week ended Nov. 9, and 0.9% above a year ago. For the four weeks ended Nov. 9, blending demand averaged 930,000 bpd, 7,000 bpd above the same period in 2017.
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