EIA: Ethanol Stocks Continue Higher

OAKHURST, N.J. (DTN) -- Domestic ethanol inventories rose for a second straight week while plant production increased for the first time in six weeks, according to Energy Information Administration data.

EIA reports ethanol inventories rose 441,000 barrels (bbl) to 22.142 million bbl during the week-ended April 27, the highest level since the last week of March but about 5% lower than the same time in 2017.

East Coast PADD 1 supply rose 473,000 bbl on the week to 7.378 million bbl, about 10% below the same week in 2017.

Midwest PADD 2 ethanol supply declined for a seventh straight week, down 72,000 bbl to 7.771 million bbl, 2.5% below a year earlier. At the Gulf Coast PADD 3, stockpiles added 31,000 bbl to 3.814 million bbl, down 7.3% versus the corresponding week in 2017 while PADD V West Coast gained about 10,000 bbl to 2.799 million bbl.

Plant production increased for the first time in six weeks, rising 47,000 bpd to 1.032 million bpd during the week-ended April 27, up 46,000 bpd, or 4.7%, from the same week last year. Four-week average production at 1.015 million bpd as of April 27 was 27,000 bpd higher than the corresponding four weeks in 2017.

Net refiner and blender inputs, a measure for ethanol demand, rose 12,000 bpd during the week profiled to 923,000 bpd, down 4,000 bpd versus a year ago. For the four weeks ended April 27, blending demand averaged 914,000 bpd, down 5,000 bpd versus same period in 2017.