EIA: Ethanol Stocks Edge Higher

OAKHURST, N.J. (DTN) -- Domestic ethanol stocks edged higher for a second straight week during the week-ended June 29 while production eased modestly, Energy Information Administration data shows.

EIA reports ethanol inventories rose 301,000 barrels (bbl) to 21.975 million bbl during the week profiled, a nearly 2% year-over-year supply surplus.

East Coast PADD 1 supply eased 22,000 bbl to 7.042 million bbl last week, a 6.7% year-over-year supply deficit.

Midwest PADD 2 ethanol supply rose to 7.589 million bbl from 7.545 million bbl the week prior, leaving stocks 5.6% higher than the same week in 2017.

At the Gulf Coast PADD 3, stockpiles increased 212,000 bbl to 4.832 million bbl, a 20% year-over-year supply surplus. Data showed PADD V West Coast supply rose 52,000 bbl to 2.157 million bbl on the week.

Plant production declined 5,000 barrels per day (bpd) to 1.067 million bpd during the week-ended June 29, 5.2% higher than the same time in 2017. Four-week average production at 1.064 million bpd as of June 29 was 58,000 bpd higher than the corresponding four weeks in 2017.

Net refiner and blender inputs, a measure for ethanol demand, increased 3,000 bpd to 950,000 bpd during the week-ended June 29, 5,000 bpd higher than a year ago. For the four weeks ended June 29, blending demand averaged 945,000 bpd, steady with the same period in 2017.