EIA: US Ethanol Stocks Down

WASHINGTON (DTN) -- Domestic ethanol stocks posted the first draw in three weeks in tune with a decline in ethanol plant production rates during the week ended Dec. 7, according to Energy Information Administration data released Wednesday, Dec. 12.

Total domestic ethanol inventories declined 100,000 barrels (bbl) in the week ended Dec. 7 to 22.890 million bbl, with stocks 2.2% above the corresponding week in 2017.

Data detailed ethanol stocks at the East Coast PADD 1 stayed flat at 7.001 million bbl, but 2.9% higher than the corresponding week in 2017. At the Midwest PADD 2, stockpiles gained 150,000 bbl to 7.762 million bbl, although 6.0% lower than inventory on-hand last year. Gulf Coast PADD 3 stocks declined a sizeable 291,000 bbl to 4.400 million bbl, but are still 7.3% above a year ago. West Coast PADD V ethanol inventories gained 14,000 bbl to 3.339 million bbl, and are 17.9% above year ago.

Plant production decreased a modest 23,000 barrels per day (bpd) to 1.046 million bpd, reversing down from the high rates reported last week, and are 3.9% lower than the corresponding week a year ago. Four-week averaged production was 1.051 million bpd versus 1.084 million bpd during the corresponding four-week period in 2017.

Net refiner and blender inputs, a measure for ethanol demand, gained for the first time in three weeks, up 14,000 bpd to 910,000 bpd during the week ending Dec. 7, while 0.7% below year ago. For the four weeks ended Dec. 7, blending demand averaged 915,000 bpd, 4,000 bpd above the same period in 2017.