EIA: Ethanol Stocks Down

OAKHURST, N.J. (DTN) -- Domestic ethanol stocks decreased during the week-ended Sept. 14 despite a 3% gain in production as East Coast ethanol supplies dropped nearly 8%, Energy Information Administration data released Wednesday shows.

EIA reports ethanol inventories decreased 148,000 barrels (bbl) during the week reviewed to 22.746 million bbl, 1.6 million bbl, or 7.6%, higher than supply held during the same week in 2017.

East Coast PADD 1 supply dropped 592,000 bbl to 7.190 million bbl last week yet were 7.5% more than a year ago.

At the Gulf Coast PADD 3, stockpiles increased for a second consecutive week, up 501,000 bbl to 4.645 million bbl, a steep 27.8% year-over-year supply surplus.

Midwest PADD 2 ethanol supply eased slightly, down 12,000 bbl to 7.721 million bbl but about 7% higher than the same week in 2017.

Data showed PADD V West Coast supply declined to 2.834 million bbl from 2.887 million bbl a week earlier.

Plant production rose 31,000 barrels per day (bpd) to 1.051 million bpd during the week ended Sept. 14, nearly 2% above the corresponding week in 2017. Four-week averaged production was 1.057 million bpd versus 1.045 million bpd during the corresponding four week period in 2017.

Net refiner and blender inputs, a measure for ethanol increased 10,000 bpd to 928,000 bpd during the week-ended Sept. 14, 3.3% more than a year ago. For the four weeks ended Sept. 14, blending demand averaged 935,000 bpd, 16,000 bpd more than the same period in 2017.