NEW YORK (DTN) -- The U.S. Energy Information Administration reported on Thursday, Jan. 4, a big build for U.S. fuel ethanol inventories while domestic plant production and blending demand declined during the week-ended Dec. 29.
The EIA's Weekly Petroleum Status Report showed fuel ethanol stockpiles jumped 600,000 barrels (bbl), or 2.7%, to a 22.6 million bbl six-month high, up 3.9 million bbl, or 20.9%, versus a year ago. The stock build occurred mostly in the Midwest, where supply rose about 700,000 bbl to an 8.4 million bbl nine-month high last week.
Domestic plant production declined 58,000 barrels per day (bpd), or 5.3%, to 1.032 million bpd last week, down 11,000 bpd, or 1.1%, year over year. For the four weeks ended Dec. 29, fuel ethanol production averaged 1.072 million bpd, 35,000 bpd, or 3.3%, higher than a year ago.
Net refiner and blender inputs, a measure for ethanol demand, tumbled 91,000 bpd, or 9.6%, to 855,000 bpd last week while up 10,000 bpd, or 1.2%, year over year. For the four-week period ended Dec. 29, blending demand averaged 907,000 bpd, up 9,000 bpd, or 1.0%, versus a year ago.
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