WASHINGTON, D.C. (DTN) -- Energy Information Administration data shows domestic ethanol stocks posted the first gain in two weeks while production steadily grew to reach a 9-week high.
Total domestic ethanol inventories increased 500,000 bbl in the week ended Nov. 2 to a 23.2 million bbl, which is 8.9% higher than the corresponding week in 2017.
Data showed ethanol stocks at the East Coast PADD 1 stayed flat at 7.5 million bbl, a 13.6% year-over-year supply surplus. At the Midwest PADD 2, stockpiles gained 200,000 bbl to 7.6 million bbl, 6.2% lower than inventory on-hand last year. Gulf Coast PADD 3 stocks posted a 200,000 bbl decline to 4.5 million bbl, which is still a steep 18.4% above a year ago. West Coast PADD V ethanol inventories gained 400,000 bbl to 3.2 million bbl, a 14.3% change from the previous week and a sharp 28.0% increase from the last year.
Plant production increased by 9,000 bpd to 1.068 million bpd, a 9-week high, during the week-ended Nov. 2, 1% higher than the corresponding week in 2017. Four-week averaged production was 1.041 million bpd versus 1.043 million bpd during the corresponding 4-week period in 2017.
Net refiner and blender inputs, a measure for ethanol demand, declined for the second straight week, down 19,000 bpd to 917,000 bpd during the week ended Nov. 2, and 0.1% below a year ago. For the four weeks ended Nov.2, blending demand averaged 931,000 bpd, 7,000 bpd above the same period in 2017.
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