EIA: Ethanol Stocks Up, Demand Down

OAKHURST, N.J. (DTN) -- Domestic ethanol plant production held steady during the week-ended June 1 with supply up 2.8% as demand slumped, the Energy Information Administration reported on Wednesday, June 6.

EIA reports ethanol inventories gained 634,000 barrels (bbl) to 21.897 million bbl during the week profiled, 0.5% below the same week in 2017.

East Coast PADD 1 supply added 124,000 bbl on the week to 7.073 million bbl, a 5.3% year-over-year supply deficit.

Midwest PADD 2 ethanol supply rose for the third time in four weeks, up 92,000 bbl to 7.860 million bbl and flat versus a year earlier. At the Gulf Coast PADD 3, stockpiles rose after a one-week decline, up 323,000 bbl to 4.125 million bbl and a 10.8% year-over-year supply surplus. Data showed PADD V West Coast supply up 117,000 bbl week over week at 2.490 million bbl.

Plant production was unchanged at 1.041 million barrels per day (bpd) during the week-ended June 1, and 42,000 bpd higher than the same time in 2017.

Four-week average production at 1.042 million bpd as of June 1 was 28,000 bpd higher than the corresponding four weeks in 2017.

Net refiner and blender inputs, a measure for ethanol demand, tumbled 40,000 bpd to 901,000 bpd during the week profiled, down 8,000 bpd versus a year ago. For the four weeks ended June 1, blending demand averaged 932,000 bpd, down 7,000 bpd versus same period in 2017.