EIA: Ethanol Stocks Fall 1.0M Bbl

NEW YORK (DTN) -- The latest weekly supply report from the U.S. Energy Information Administration shows domestic ethanol supply declined for the second straight week, down 1.0 million bbl or 4.2% to a five-week low of 22.8 million bbl during the week ended March 23 and down 500,000 bbl or 2.1% versus a year ago.

Regionally, stocks fell in the Midwest by 600,000 bbl or 6.7% to 8.4 million bbl last week while down 200,000 bbl or 2.3% year-on-year. East Coast supply was drawn down 500,000 bbl or 6.7% to 7.0 million bbl during the week reviewed, down 1.0 million bbl or 12.5% year-on-year. Gulf Coast supply rose 200,000 bbl or 4.8% to 4.4 million bbl while up 500,000 bbl or 12.8% versus a year ago.

Plant production declined 10,000 bpd or 1.0% to 1.039 million bpd last week while up 15,000 bpd or 1.4% compared to a year ago, with a number of plants still in seasonal maintenance programs. For the four weeks to March 23, production averaged 1.043 bpd, up 2,000 bpd versus same period in 2017.

Net refiner and blender inputs, a measure for ethanol demand, dropped 16,000 bpd or 1.7% last week to 900,000 bpd while down 11,000 or 1.2% versus a year ago. For the four-week period ended March 23, ethanol blending demand averaged 905,000 bpd, up 2,000 bpd versus same period in 2017.