EIA: Ethanol Stocks Up; Production Down

Blending Demand Also Higher

NEW YORK (DTN) -- The U.S. Energy Information Administration issued a report midmorning on Wednesday, showing domestic ethanol inventories and blending demand increased last week while plant production fell.

The EIA's Weekly Petroleum Status Report for the week ended April 21 showed fuel ethanol inventories rose by roughly 200,000 bbl or 1.3% to about 23.3 million bbl, a three-week high, while up 1.6 million bbl or 7.9% year-over-year.

Regionally, PADD 1 East Coast stocks increased 300,000 bbl to 8.5 million bbl, the highest supply level since the week ended March 25, 2016. PADD 2 Midwest stocks were drawn down by 100,000 bbl to 7.8 million bbl, the lowest inventory for the producer region since the week ended Feb. 10. PADD 3 Gulf Coast eased 200,000 bbl to 4.2 mi0lion bbl. PADD 5 West Coast stocks increased 200,000 bbl to 2.6 million bbl, the highest supply level since the week ended Oct. 28, 2016, the data shows.

Domestic plant production declined by 6,000 bpd or 0.6% to 987,000 bpd last week, but remained 60,000 bpd or 6.5% higher year-over-year. For the four weeks ended last week, ethanol production averaged 996,000 bpd, up 51,000 bpd or 5.4%.

Net refiner and blender inputs, a gauge for ethanol demand, increased by 20,000 bpd or 2.2% to 932,000 bpd during the week-ended April 21, and were up 14,000 bpd or 1.5% over a year ago level. For the four-week period ended April 21, blending demand was up 14,000 bpd or 1.5%.

(BM/CZ)