CRANBURY, N.J. (DTN) -- Ethanol supply in the United States was drawn down for the fourth consecutive week since reaching a record high as plant output remained below blending demand during the week ended May 15, the Energy Information Administration reported on Wednesday, May 20.
EIA reported a 600,000-barrel (bbl) decline in domestic ethanol inventory to a better-than-four-month low 23.6 million bbl, 200,000 bbl above a year ago. Ethanol stocks are down 4.089 million bbl or 14.8% from a record high reached April 17.
Regional ethanol drawdowns occurred in the PADD 1 East Coast, down 500,000 bbl to 8 million bbl, 100,000 bbl above a year ago, and in the PADD 2 Midwest, down 400,000 bbl to 7.3 million bbl, while 800,000 bbl less than year ago. Ethanol supply increased 500,000 bbl in the PADD 3 Gulf Coast to 5.4 million bbl, 800,000 bbl above a year ago.
Net ethanol inputs increased a modest 2% during the week profiled, up 14,000 barrels per day (bpd) to a 680,000-bpd eight-week high. It was the sixth straight week with an increase since falling to a 502,000-bpd record low during the week ended April 3, while down 271,000 bpd or 28.5% against the year prior. During the four weeks ended May 15, net ethanol inputs averaged 631,000 bpd, down 337,000 bpd or 35.9% against the comparable year-ago period.
Ethanol production in the United States increased 46,000 bpd or 7.5% during the week to a 663,000 bpd sixth weekly high after falling to a 537,000 bpd more than decade low during the week ended April 24. Ethanol production is down 38% against the year-ago 1.071 million bpd output rate.
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