EIA: Ethanol Supplies Extend Lower

OAKHURST, N.J. (DTN) -- Domestic ethanol stocks extended lower for a second straight week as supply at the Gulf Coast eroded further in the final week of August, Energy Information Administration data released Thursday, Sept. 6 shows.

EIA reports ethanol inventories fell 358,000 barrels (bbl) during the week ended Aug. 31 to 22.703 million bbl, a 1.6 million bbl, or 7.6%, year-over-year supply surplus.

At the Gulf Coast PADD 3, stockpiles dropped for a second week, sliding 1.222 million bbl to 3.926 million bbl during the week profiled. Versus a year ago, supply in PADD 3 is at a 2.5% year-over-year supply deficit.

East Coast PADD 1 supply gained 162,000 bbl to 7.718 million bbl last week, leaving stocks 22% higher than a year ago.

Midwest PADD 2 ethanol supply continued higher, up 181,000 bbl to 7.718 million bbl, 4.1% above the same week in 2017.

Data showed PADD V West Coast supply rose 2.964 million bbl from 2.466 million bbl.

Plant production jumped 17,000 barrels per day (bpd) to 1.087 million bpd during the week ended Aug. 31, a four-week high and 2.5% higher than the same week in 2018. Four-week average production was 1.076 million bpd versus 1.053 million bpd during the corresponding four-week period in 2017.

Net refiner and blender inputs, a measure for ethanol erased the prior week gain, fell 7,000 bpd to 943,000 bpd during the week-ended Aug. 31, 20,000 bpd higher than a year ago. For the four weeks ended Aug. 31 blending demand averaged 946,000 bpd, 2,000 bpd below the same period in 2017.

(BM/AG)

Copyright 2018 DTN/The Progressive Farmer. All rights reserved.