EIA: US Ethanol Stocks Edge Up

WASHINGTON, D.C. (DTN) -- Energy Information Administration data shows domestic ethanol stocks remained mostly flat with a fractional increase in the week ended Nov. 23 as blending demand declined for the first time in four weeks.

Total domestic ethanol inventories increased 139,000 bbl in the week ended Nov.23 to 22.930 million bbl, after posting the first draw in three weeks week prior. Stocks are 4.1% higher than the corresponding week in 2017.

Data showed ethanol stocks at the East Coast PADD 1 dropped 389,000 bbl to 7.060 million bbl, a 1.4% year-over-year supply surplus. At the Midwest PADD 2, stockpiles gained 362,000 bbl to 7.626 million bbl, 8.4% lower than inventory on hand last year. Gulf Coast PADD 3 stocks posted a 199,000 bbl increase to 4.754 million bbl, a steep 23.1% above a year ago while West Coast PADD IV, and PADD V ethanol inventories stayed mostly flat at 356,000 bbl and 3.133 million bbl.

Plant production increased modestly by 6,000 bpd to 1,048 million bpd during the week ended Nov. 23, 1.7% lower than the corresponding week a year ago. Four-week averaged production was 1.056 million bpd versus 1.063 million bpd during the corresponding four-week period in 2017. Net refiner and blender inputs, a measure for ethanol demand, declined for the first time in four weeks, down 4,000 bpd to 924,000 bpd during the week ended Nov. 23, 0.2% above the year ago. For the four weeks ended Nov.23, blending demand averaged 924,000 bpd, 4,000 bpd above the same period in 2017.

(BM/CZ)