EIA: Ethanol Stocks at Record High

NEW YORK (DTN) -- Domestic fuel ethanol inventories posted another build last week, surging 1.9% to a record high while plant production eased, according to the latest report by the U.S. Energy Information Administration.

The EIA's Weekly Petroleum Status Report for the week-ended March 31 showed fuel ethanol inventories jumped roughly 400,000 barrels (bbl) to 23.7 million bbl. A year-over-year supply surplus widened to 1.5 million bbl, or 6.8%, above stocks for the corresponding week in 2016.

Domestic plant production fell 35,000 barrels per day (bpd), or 3.3%, from a near-two-month high to 1.019 million bpd last week. Plant production is up 43,000 bpd, or 4.4%, year-over-year. For the four weeks ended March 31, fuel ethanol production averaged 1.040 million bpd, up 50,000 bpd, or 5.1%.

Net refiner and blender inputs, a measure for ethanol demand, rose 7,000 bpd, or 0.8%, to 918,000 bpd during the week-ended March 31. On a year-over-year basis, refiner and blender inputs were up 20,000 bpd, or 2.2%, last week. For the four-week period ended March 31, blending demand was up 28,000 bpd, or 3.16%.