Ethanol Stocks, Output Down; Demand Up

NEW YORK (DTN) -- Domestic ethanol stocks were drawn down 100,000 barrels (bbl) to 19.6 million bbl during the week-ended July 17, the Energy Information Administration reported midmorning, while 1.7 million bbl, or 9.5%, higher than supply held during the comparable year-ago period.

EIA showed domestic production fell last week by 11,000 barrels per day (bpd) to 973,000 bpd, although 14,000 bpd, or 1.5%, higher than the year prior.

Blender inputs, a gauge for ethanol demand, rose by 16,000 bpd to 897,000 bpd during the week profiled, with blending 25,000 bpd, or 2.9%, higher year on year.

EIA detailed a 346,000 bpd or 3.7% increase in implied gasoline demand to 9.749 million bpd last week, the highest weekly demand rate since August 2007.