EIA: Ethanol Stocks, Output Down

OAKHURST, N.J. (DTN) -- Energy Information Administration data for the week-ended June 16 released Wednesday, June, 21, shows total domestic fuel ethanol inventories declined as plant production fell and implied demand continued higher week-over-week.

The EIA's Weekly Petroleum Status Report for the week profiled shows fuel ethanol stockpiles declined about 200,000 barrels (bbl) to 22.3 million bbl, leaving stocks at a 5.7% year-over-year supply surplus.

Domestic plant production dropped 12,000 barrels per day (bpd), or 1.2%, to 990,000 bpd last week, 28,000 bpd, or about 3%, higher than output during the corresponding week in 2016. For the four weeks ended June 9, ethanol production averaged 1.003 million bpd versus 985,000 bpd during the same four week period in 2016.

Net refiner and blender inputs, a gauge for ethanol demand, increased 12,000 bpd, or 1.3%, to 943,000 bpd during the week-ended June 16, which was 15,000 bpd, or 1.6%, higher than a year ago. For the four-week period ended June 16, blending demand averaged 933,000 bpd, up 14,000 bpd from the corresponding four-week period in 2016.