NEW YORK (DTN) -- The Energy Information Administration released data Wednesday, March 2, showing both U.S. ethanol inventories and domestic production fell last week while implied demand was unchanged.
The data showed total inventories decreased for the second straight week, down 500,000 barrels (bbl), or 2.1%, to 22.6 million bbl during the week-ended Feb. 26, reducing the year-over-year surplus to 1.1 million bbl, or 5.1%.
On a regional basis, the stock decline was concentrated along PADD 3 Gulf Coast, where supplies fell 700,000 bbl to 3.9 million bbl. Stocks in PADD 1 East Coast, PADD 2 Midwest and PADD 5 West Coast all inched up.
Plant production fell 7,000 barrels per day (bpd), or 0.7%, to 987,000 bpd last week, while up about 6.0% year-over-year.
Blender inputs, a proxy for ethanol demand, were unchanged at 882,000 bpd for the week, while up 4.3% year-over-year.
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