Ethanol Stocks Hit 4-Year High

NEW YORK (DTN) -- The Energy Information Administration released data for the week-ended Jan. 29 on Wednesday, Feb. 3, showing a decline for domestic ethanol production and weaker implied demand while total inventories surged to the highest level since April 2012.

The data showed total inventories increased 926,000 barrels (bbl), or 4.3%, to 22.4 million bbl last week, raising the year-over-year surplus to 1.4 million bbl, or 6.6%.

Stock increases were seen across the nation's key regions except in the Rocky Mountain region. PADD 3 Gulf Coast supply increased the most the data showed, up 632,000 bbl for the week to 4.311 million bbl.

Plant production fell for the third straight week, down 2,000 barrels per day (bpd) to 959,000 bpd last week, while down 1.3% year over year. Blender inputs, a proxy for ethanol demand, fell 50,000 bpd, or 5.8%, to 815,000 bpd for the week.