EIA: Ethanol Stocks Build

CRANBURY, N.J. (DTN) -- Ethanol supply in the United States increased and production from domestic plants fell to a one-year low during the week-ended April 29, the Energy Information Administration reported Wednesday, May 4.

After two straight weeks with drawdowns, domestic ethanol inventory increased nearly 600,000 barrels (bbl) to 22.2 million bbl during the week reviewed, 1.4 million bbl, or 6.7%, more supply than year prior.

Ethanol stocks jumped 800,000 bbl to 4.6 million bbl in the PADD 3 Gulf Coast last week, and by a more moderate 200,000 bbl in the PADD 2 Midwest producer region. Ethanol stocks in the PADD 1 East Coast were drawn down 300,000 bbl to 7.8 million bbl, and were flat in the PADD 4 Rocky Mountain region at 300,000 bbl and in the PADD 5 West Coast region at 2.7 million bbl.

U.S. ethanol production plants averaged 923,000 barrels per day (bpd) of output during the week reviewed, a one-year low, and down 4,000 bpd from week prior. Domestic output averaged 932,000 bpd during the four weeks ended April 29, up 17,000 bpd, or 1.9%, from the comparable year-ago period.

Refiner and blender net inputs of ethanol eased 8,000 bpd from a seven-month high to 910,000 bpd. During the four weeks ended April 29, ethanol input averaged 907,000 bpd, 30,000 bpd, or 3.4%, above the same period in 2015.

EIA also reported an 187,000 bpd increase in gasoline supplied to the primary market to a 9.502 million bpd three-week high. Cumulatively from Jan. 1 through April 29, implied gasoline demand averaged 9.213 million bpd, 386,000 bpd, or 4.4%, above the same timeline in 2015.