NEW YORK (DTN) -- The U.S. Energy Information Administration's latest weekly report shows ethanol supply in the United States up 500,000 bbl or 2.2% to 23.5 million bbl during the week-ended Feb. 2, moving closer to the record high of 23.8 million bbl registered just two weeks prior, while up 1.4 million bbl or 6.3% against year prior.
The stock build was concentrated in the PADD 1 East Coast according to Wednesday's report, where supply surged 500,000 or 6.7% to 8.0 million bbl. Ethanol supply in the PADD 2 Midwest increased 200,000 bbl, or 2.4% each to 8.4 million, which was offset by a 200,000 bbl, or 4.8% draw in PADD 3 Gulf Coast stocks to 4.0 million bbl. Likewise, a 100,000 bbl increase in the PADD 4 Rocky Mountain region to 400,000 bbl compared with a 100,000 bbl decline in PADD 5 West Coast inventory.
P[L1] D[0x0] M[300x250] OOP[F] ADUNIT T
Domestic plant production and blending demand also increased during the week reviewed, with output up 17,000 bpd or 1.6% to 1.057 million bpd last week, and 2,000 bpd higher on the year. For the four weeks ended Feb. 2, production averaged 1.055 million bpd, unchanged versus a year ago.
Net refiner and blender inputs, a measure for ethanol demand, climbed 10,000 bpd or 1.2% last week to 868,000 bpd. Compared to a year ago, blending demand was down 7,000 bpd or 0.8% at 875,000 bpd. For the four-week period ended Feb. 2, blending demand averaged 852,000 bpd, up 6,000 bpd or 0.7% versus a year ago.
George Orwel can be reached at email@example.com
© Copyright 2018 DTN/The Progressive Farmer. All rights reserved.