EIA: Ethanol Stocks Build

WASHINGTON (DTN) -- Domestic ethanol inventories increased in the week ended Feb. 15, with the build realized even as plant production fell from a three-week high, according to data released by the Energy Information Administration on Thursday, Feb. 21.

EIA reported domestic ethanol stocks gained 447,000 barrels (bbl) from a four-week low in the week profiled to 23.913 million bbl, with supply 4.8% higher than the same week in 2018. Regionally, the East Coast PADD 1 gained 175,000 bbl to 7.653 million bbl, 2.5% lower than a year ago. At the Midwest PADD 2, stockpiles registered a 157,000 bbl increase to 8.132 million bbl, leaving stocks at a 2.4% year-over-year supply deficit. Gulf Coast PADD 3 posted the largest increase at 339,000 bbl to 5.01 million bbl, sitting at a steep 42% above inventory on-hand during the corresponding week in 2018, while West Coast PADD V ethanol inventories plunged 206,000 bbl last week to 2.755 million bbl.

Plant production eased 33,000 barrels per day (bpd) to 996,000 bpd last week. Four-week averaged production was 1.001 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, reversed 14,000 bpd higher to 887,000 bpd, while flat with a year ago. For the four weeks ended Feb. 15, blending demand averaged 879,000 bpd, 5,000 bpd above the same period in 2018.

(BM/AG)

Copyright 2019 DTN/The Progressive Farmer. All rights reserved.