NEW YORK (DTN) -- Total U.S. ethanol inventories surged last week despite domestic plant production falling to the lowest level since early May, according to a U.S. Energy Information Administration report on Wednesday, Sept. 23.
The report showed ethanol stocks increased 600,000 barrels (bbl), or 3.3%, to a three-week high of 18.9 million bbl during the week-ended Sept. 18, with a year-over-year stock surplus at 1.7%.
The stock builds were seen along PADD 1 East Coast and PADD 3 Gulf Coast regions, while stocks in PADD 2 Midwest, PADD 5 West Coast and PADD 4 Rocky Mountain were unchanged.
EIA also reported 44,000 barrels per day (bpd) of ethanol imports were received along the East Coast last week.
The report showed domestic ethanol production fell 23,000 bpd or 2.4% to 938,000 bpd, the lowest since the week-ended May 8, while up 49,000 bpd or 5.5% year on year.
Blender inputs, a gauge for ethanol demand, rose last week by 14,000 bpd or 1.6% to 892,000 bpd while up 0.7% versus a year earlier.
Other EIA data showed implied demand for gasoline increased 232,000 bpd to 9.215 million bpd, roughly 5.0% higher than the same week a year ago.
George Orwel can be reached at firstname.lastname@example.org
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