EIA: Ethanol Supply Up for Third Week

OAKHURST, N.J. (DTN) -- Domestic ethanol stocks extended higher for a third consecutive week in the period ended Aug. 10 as plant production, though down from a 2018 high, remained above the same week a year ago, Energy Information Administration data shows.

EIA reports ethanol inventories increased 94,000 barrels (bbl) last week to 23.017 million bbl, 1.2 million, or 5.5%, higher than supply held a year earlier.

East Coast PADD 1 supply rose to 7.310 million bbl from 7.262 million bbl the week prior, leaving stocks at a 5.8% year-over-year supply surplus.

Midwest PADD 2 ethanol supply declined 80,000 bbl to 7.730 million bbl, which was 5.5% higher than the same week in 2017.

At the Gulf Coast PADD 3, stockpiles added 39,000 bbl to 5.152 million bbl during the week-ended Aug. 10. Versus a year ago, supply in PADD 3 is at a sizeable 18.2% year-over-year surplus. Data showed PADD V West Coast supply rose 85,000 bbl to 2.487 million bbl.

Plant production fell 28,000 barrels per day (bpd) to 1.072 million bpd during the week ended Aug. 10 but was 1.2% higher than the same week in 2018. Four-week averaged production was 1.077 million bpd versus 1.021 million bpd during the corresponding four-week period in 2017.

Net refiner and blender inputs, a measure for ethanol demand, rose 7,000 bpd to 948,000 bpd during the week-ended Aug. 10, steady versus a year ago. For the four weeks ended Aug. 10, blending demand averaged 944,000 bpd, 2,000 bpd below the same period in 2017.