EIA: Ethanol Supplies, Output Higher

OAKHURST, N.J. (DTN) -- Domestic ethanol stocks posted a fourth straight weekly build during the week ended Aug. 17 as production edged up and demand declined, according to Energy Information Administration data released Wednesday, Aug. 22.

EIA reports ethanol inventories increased 242,000 barrels (bbl) last week to 23.259 million bbl, a 1.8 million bbl, or 8.4%, year-over-year supply surplus.

East Coast PADD 1 supply rose to 7.545 million bbl from 7.310 million bbl the week prior, leaving stocks nearly 12% higher than a year ago.

Midwest PADD 2 ethanol supply fell for a second consecutive week, down 265,000 bbl to 7.465 million bbl, yet were about 3% above the same week in 2017.

At the Gulf Coast PADD 3, stockpiles rose for a third straight week, up 297,000 bbl to 5.449 million bbl as of the week ended Aug. 17. Versus a year ago, supply in PADD 3 is at a sizeable 28.6% year-over-year supply surplus. Data showed PADD V West Coast supply declined 38,000 bbl to 2.449 million bbl.

Plant production edged up 1,000 bpd to 1.073 million bpd during the week ended Aug. 17 and was 2.0% higher than the same week in 2018. Four-week averaged production was 1.077 million bpd versus 1.031 million bpd during the corresponding four-week period in 2017.

Net refiner and blender inputs, a measure for ethanol demand fell 5,000 bpd to 943,000 bpd during the week-ended Aug. 17, down 5,000 bpd versus a year ago. For the four weeks ended Aug. 17, blending demand averaged 945,000 bpd, 1,000 bpd below the same period in 2017.