EIA: US Ethanol Stocks Edge Higher

WASHINGTON (DTN) -- Domestic ethanol stocks continued higher for the second straight week, while both net refiner and blender inputs and plant output reversed up during the week ended Jan. 11, according to Energy Information Administration data released on Wednesday, Jan. 16.

EIA reported domestic ethanol stocks increased by 97,000 barrels (bbl) to 23.351 bbl during the week ended Jan. 11, while 3.1% above inventories from the corresponding week a year ago. Data detailed ethanol stocks at the East Coast PADD 1 posted 251,000 bbl gain to 7.294 million bbl, which is 4.3% higher from the previous year. At the Midwest PADD 2, stockpiles were drawn down 494,000 bbl to 7.955 million bbl, 1.2% lower than inventory on-hand last year. Gulf Coast PADD 3 stocks gained 366,000 bbl to 4.621 bbl, which is 2.2% higher than a year ago, while West Coast PADD V ethanol inventories remained mostly flat at 3.108 million bbl, while registering a steep gain of 10.7% from the corresponding week a year ago.

Plant production increased 51,000 barrels per day (bpd) to 1.051 million bpd during the week profiled, reversing the downward trend that began during the last week of November. Four-week averaged production was 1.026 million bpd versus 1.045 million bpd during the corresponding four-week period in 2018.

Net refiner and blender inputs, a measure for ethanol demand, increased 47,000 bbl, or 5.8%, from the prior week to 862,000 bbl. For the four weeks ended Jan. 11, blending demand averaged 870,000 bpd, 7,000 bpd above the same period in 2018.