EIA: Ethanol Stocks, Demand Up

Output Dips to 9-Week Low

NEW YORK (DTN) -- The U.S. Energy Information Administration released a report Wednesday showing ethanol stocks in the United States were little changed last week, up 89,000 bbl to 19.648 million bbl in the week-ended July 24 while 5.7% higher than a year earlier.

The EIA also showed domestic production fell to the lowest level in nine weeks, down last week by 8,000 bpd to 965,000 bpd while up 1.2% year on year.

Blender inputs, a gauge for ethanol demand, rose last week by 6,000 bpd to a three-week high of 903,000 bpd, while 2.96% higher year on year.

Implied demand for gasoline plunged 410,000 bpd to 9.339 million bpd for the week reviewed, although 3.7% higher than the same week last year, EIA said.