Ethanol Inventories Fall
EIA: Ethanol Stocks Fall to Lowest Level in Nearly 11 Months
OAKHURST, N.J. (DTN) -- The latest data from the Energy Information Administration show another drawdown in domestic ethanol inventories through Nov. 11 as production dropped for the first time in seven weeks and demand ticked higher.
EIA reports ethanol production in the United States tumbled 40,000 barrels per day (bpd) or 3.8% to a five-week low 1.011 million bpd last week, 4.6% below than the same week a year ago. Four-week average production at 1.034 million bpd was 44,000 bpd lower than the corresponding four weeks in 2021.
Midwest ethanol production was also lower for the first time in seven weeks, falling 38,000 bpd or 3.8% to 954,000 bpd, a five-week low.
Domestic blending activity increased 9,000 bpd to 893,000 bpd through Nov. 11, 5,000 bpd below the corresponding week in 2021.
Data show refiner and blender net inputs along the East Coast PADD 1 continued lower, down 2,000 bpd to 321,000 bpd on the week while gaining 5,000 bpd in PADD 2 to 242,000 bpd, up 5,000 bpd at the Gulf Coast PADD 3 to 153,000 bpd and rising 2,000 bpd along the West Coast PADD 5 to 146,000 bpd last week.
Overall, ethanol stocks dropped 894,000 barrels in the week ended Nov. 11 to 21.298 million bbl, the lowest level since the week ended Dec. 24, 2021.
East Coast ethanol inventory slid 835,000 bbl to 6.316 million bbl on the week, the lowest supply on-hand since the final week of December while Midwest stocks added 298,000 bbl to 8.535 million bbl, a nine-week high.
Gulf Coast ethanol inventory fell 155,000 bbl to 3.764 million bbl while West Coast stocks dropped 190,000 bbl to 2.356 million bbl last week, the lowest stock level since the week-ended July 1.
(c) Copyright 2022 DTN, LLC. All rights reserved.