NEW YORK (DTN) -- Total ethanol stockpiles rose for the third straight week to a fresh nine-month high, while domestic plant production surged to a fresh record high during the week-ended Jan. 27, the Energy Information Administration reported on Wednesday. EIA also showed greater ethanol demand for blending.
The EIA's Weekly Petroleum Status Report showed domestic fuel ethanol inventories increased last week by another 100,000 barrels (bbl) to 21.9 million bbl, the highest level since the week-ended April 29, 2016 when stocks were at 22.201 million bbl. Supplies are down 500,000 bbl, or 2.2%, year-on-year.
Domestic plant production ramped up 10,000 barrels per day (bpd), or 1.0%, to 1.061 million bpd for the week-ended Jan. 27 while 101,000 bpd, or 10.5%, higher versus a year earlier. For the four weeks ended last week, ethanol production averaged 1.054 bpd, up 78,000 bpd, or 7.9%, from year prior.
Net refiner and blender inputs of ethanol, a measure of demand, rose 4,000 bpd to 837,000 bpd during the week-ended Jan. 27. Year over year, refiner and blender inputs are up 22,000 bpd, or 2.7%. The four-week average blending demand rate is down 7,000 bpd from year prior at 829,000 bpd.
© Copyright 2017 DTN/The Progressive Farmer. All rights reserved.