EIA: US Ethanol Stocks Flat

Ethanol Output Drops 4.4% on Week

WASHINGTON (DTN) -- Energy Information Administration reports domestic ethanol stocks remained mostly unchanged after reaching the highest level in a year, while plant output dropped by the most in three weeks.

EIA reported domestic ethanol stocks remained mostly unchanged with a fractional decrease of 33,000 barrels (bbl) to 23.947 bbl during the week ended Feb. 1, while posting a 1.7% increase in inventories from the corresponding week a year ago.

Data detailed ethanol stocks at the East Coast PADD 1 gained 48,000 bbl to 7.726 million bbl, which is 3.8% lower from the previous year. At the Midwest PADD 2, stockpiles were up 100,000 bbl to 8.020 million bbl, 3.8% lower than inventory on-hand last year. Gulf Coast PADD 3 stocks edged down 222,000 bbl to 4.833 bbl, a steep 20% above the inventory level reported last year. West Coast PADD V ethanol inventories remained mostly flat at 2.970 million bbl, while 11% higher than the corresponding week a year ago.

Plant production dropped by the most in three week, down 45,000 barrels per day (bpd) to 967,000 million bpd, with output down 8.5% from a year ago. Four-week averaged production was 1.015 million bpd versus 1.055 million bpd during the corresponding four-week period in 2018.

Net refiner and blender inputs, a measure for ethanol demand reversed upward to gain 17,000 bbl to 887,000 bbl, 2.2% higher from year prior. For the four weeks ended Feb.1, blending demand averaged 875,000 bpd, a steady 23,000 bpd above the same period in 2018.

(BM/AG)