EIA: Ethanol Stocks Down, Output Higher

WASHINGTON (DTN) -- Domestic ethanol inventories reversed lower in the week ended Feb. 22, with the decline realized even as plant production gained 3.2% from week prior, while net refiner and blender inputs, a measure for ethanol demand posted a fractional loss, according to data released by the Energy Information Administration on Wednesday, Feb. 27.

EIA reported domestic ethanol stocks declined 204,000 barrels (bbl) to 23.709 million bbl, with supply 3.0% higher than the same week in 2018.

Regionally, the East Coast PADD 1 gained 171,000 bbl to 7.824 million bbl, 1.3% higher than a year ago. At the Midwest PADD 2, stockpiles registered the largest increase, up 539,000 bbl to 8.671 million bbl, leaving stocks 7.4% higher from week prior and 2.4% above year ago. Gulf Coast PADD 3 posted a steep drop of 707,000 bbl to 4.303 million bbl, while still at 13.2% above inventory on-hand during the corresponding week in 2018. West Coast PADD V ethanol inventories plunged 217,000 bbl last week to 2.538 million bbl.

Plant production shifted 64,000 barrels per day (bpd) higher to 1.028 million bpd last week, although 1.5% lower than a year ago. Four-week averaged production was 1.005 million bpd versus 1.046 million bpd during the corresponding four-week period in 2018.

Net refiner and blender inputs, a measure for ethanol demand, reversed lower to 882,000 bpd, down 5,000 bpd from a week earlier and 0.7% higher from a year ago. For the four weeks ended Feb. 22, blending demand averaged 882,000 bpd, 4,000 bpd lower from the same period in 2018.