Ethanol Stocks Reach 11-Month High

WASHINGTON (DTN) -- Domestic ethanol stocks continued higher for a fifth straight week to reach the highest level in almost a year, while plant output eased for a second week, according to Energy Information Administration data released Wednesday, Jan. 30.

EIA reported domestic ethanol stocks increased 479,000 barrels (bbl) to 23.980 bbl during the week ended Jan. 25, while posting 4.3% increase in inventories from the corresponding week a year ago.

Data detailed ethanol stocks at the East Coast PADD 1 increased 192,000 bbl to 7.678 million bbl, which is 2.7% higher from the previous year. At the Midwest PADD 2, stockpiles were drawn down 233,000 bbl to 7.920 million bbl, 3.7% lower than inventory on-hand last year. Gulf Coast PADD 3 stocks edged 646,000 bbl higher to 5.055 bbl, a steep 21.4% above the inventory level reported last year. West Coast PADD V ethanol inventories remained mostly flat at 2.943 million bbl, while 3.6% higher than the corresponding week a year ago.

Plant production decreased for the second straight week, down 19,000 barrels per day (bpd) to 1.012 million bpd, with output down 2.7% from a year ago. Four-week averaged production was 1.023 million bpd versus 1.040 million bpd during the corresponding four-week period in 2018.

Net refiner and blender inputs, a measure for ethanol, edged down 13,000 bbl to 870,000 bbl, although up 1.4% from year prior. For the four weeks ended Jan. 25, blending demand averaged 857,000 bpd, 23,000 bpd above the same period in 2018.

(AG)

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