EIA: Ethanol Inventories at 1-Year High

WASHINGTON (DTN) -- Domestic ethanol inventories surged to the highest level in almost a year in the week ended March 1, while net refiner and blender inputs, a measure for ethanol demand, reversed 1.5% up in line with higher seasonal demand, according to data released by the Energy Information Administration on Wednesday, March 6.

EIA reported domestic ethanol stocks gained 552,000 barrels (bbl) to 24.261 million bbl, with supply 5.2% higher than the same week in 2018.

Regionally, the East Coast PADD 1 gained 108,000 bbl to 7.932 million bbl, 2.6% higher than a year ago. At the Midwest PADD 2, stockpiles registered an increase of 152,000 bbl to 8.823 million bbl, leaving stocks 3.5% higher from a year ago. Gulf Coast PADD 3 posted a sizable build of 417,000 bbl after a 707,000 bbl drop the prior week to average 4.720 million bbl during the week ended March 1. West Coast PADD V ethanol inventories continued lower with a 105,000 bbl draw at 2.4 million bbl.

Plant production remained flat with a fractional decrease of 4,000 barrels per day (bpd) at 1.024 million bpd last week, although 3.1% lower than a year ago. Four-week averaged production was 1.019 million bpd versus 1.046 million bpd during the corresponding four-week period in 2018.

Net refiner and blender inputs reversed higher to 895,000 bpd, up 13,000 bpd from a week earlier and almost at the same level from a year ago. For the four weeks ended March 1, blending demand averaged 884,000 bpd, flat with year ago.

(AG)