EIA: Ethanol Stocks Extend Higher

OAKHURST, N.J. (DTN) -- Energy Information Administration data shows domestic ethanol plant production increased during the week ended June 8 with inventories again higher while demand reversed the prior week's drop.

EIA reports ethanol inventories increased 277,000 bbl to 22.174 million bbl during the week profiled, although down 1.3% year-over-year.

East Coast PADD 1 supply rose for a second week, up 315,000 bbl to 7.388 million bbl last week, 5.1% lower than supply held a year earlier.

Midwest PADD 2 ethanol supply declined for the second time in five weeks, falling 539,000 bbl to 7.321 million bbl during the week ended June 8. Versus the same week in 2017, stocks are down 6.4%.

At the Gulf Coast PADD 3, stockpiles jumped 567,000 bbl to 4.692 million bbl, a near 21% year-over-year supply surplus. Data showed PADD V West Coast supply declined 68,000 bbl week-over-week at 2.422 million bbl.

Plant production rose 12,000 bpd to 1.053 million bpd during the week ended June 8, up 51,000 bpd versus than the same time in 2017.

Four-week average production at 1.041 million bpd as of June 8 was 33,000 bpd higher than the corresponding four weeks in 2017.

Net refiner and blender inputs, a measure for ethanol demand, reversed the week prior drop and a little more, rising 46,000 bpd to 947,000 bpd during the week ended June 8, 16,000 bpd higher than versus a year ago. For the four weeks ended June 8, blending demand averaged 933,000 bpd, down 2,000 bpd versus same period in 2017.