EIA: US Ethanol Stocks Again Decline

OAKHURST, N.J. (DTN) -- Domestic ethanol stocks declined for a second straight week during the week ended Sept. 21 on mixed blending demand and decreased plant production, according to Energy Information Administration data released Wednesday, Sept. 26.

EIA reports ethanol inventories decreased 117,000 barrels (bbl) during the week reviewed to 22.629 million bbl, 1.9 million bbl, or 9.2%, above supply held a year earlier.

East Coast PADD 1 supply rose 780,000 bbl to 7.970 million bbl last week, a better than 21% year-over-year supply surplus.

At the Gulf Coast PADD 3, stockpiles declined after two straight weekly gains, down 474,000 bbl to 4.171 million bbl. Still, stocks were 5% more than inventory on-hand the same week in 2017.

Midwest PADD 2 ethanol supply declined for a third week, down 267,000 bbl to 7.454 million bbl. At the current level, stocks are about 14% above the corresponding week a year ago.

Data showed PADD V West Coast supply fell for a third week, down 136,000 bbl to 2.698 million bbl.

Plant production dropped 15,000 barrels per day (bpd) to 1.036 million bpd during the week ended Sept. 21, 4% above the corresponding week in 2017. Four-week averaged production was 1.048 million bpd versus 1.034 million bpd during the corresponding four week period in 2017.

Net refiner and blender inputs, a measure for ethanol demand, slid 27,000 bpd to 901,000 bpd during the week-ended Sept. 21, 1.7% lower than a year ago. For the four weeks ended Sept. 21, blending demand averaged 922,000 bpd, 12,000 bpd more than the same period in 2017.