EIA: Ethanol Stocks Steady, Blending Up

NEW YORK (DTN) -- The U.S. Energy Information Administration Wednesday reported total ethanol stockpiles were unchanged while plant production eased slightly and blending demand again increased during the week ended Dec. 16.

The EIA’s weekly petroleum status report showed domestic fuel ethanol inventories at 19.1 million barrels (bbl), unchanged from a week ago. Year-over-year supply deficit was at 1.3 million bbl or 6.5% below levels one year ago. Stocks were at a 13-month low of 18.4 million bbl during the week ended Nov. 25.

Plant production decreased 4,000 barrels per day (bpd) or 0.4% to 1.036 million bpd for the week ended Dec. 16, up 63,000 bpd or 6.5% versus a year ago. For the four weeks ended last week, ethanol production averaged 1.028 million bpd, up 48,000 bpd or 4.9%.

Net refiner and blender inputs of ethanol, a gauge for demand, rose 24,000 bpd or 2.7% to 918,000 bpd during the week ended Dec. 16. Year-over-year, refiner and blender inputs were up 38,000 bpd or 4.3% from 880,000 bpd. For the four-week average, blending demand was up 26,000 bpd or 3% to 897,000 bpd.

Implied motor gasoline demand was up 395,000 bpd last week to 9.269 million bpd, 0.9% above the same week in 2015, the report said.

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(TN)