EIA: Ethanol Stocks Down 2.5% on Demand

WASHINGTON (DTN) -- Domestic ethanol inventories eased from the highest level in almost a year during the week ended March 8, while net refiner and blender inputs, a measure for ethanol demand, moved 2.9% higher in line with seasonal demand, according to data released by the Energy Information Administration on Wednesday, March 13.

EIA reported domestic ethanol inventories were drawn 530,000 barrels (bbl) to 23.731 million bbl in the profiled week, reversing from the highest level in almost a year, while 2.5% lower from the same week in 2018. Regionally, the East Coast PADD 1 stocks declined by the largest margin, down 500,000 bbl to 7.393 million bbl, but still 2.8% higher from a year ago. At the Midwest PADD 2, stockpiles edged fractionally lower to 8.746 million bbl, leaving stocks 5.4% lower from a year ago. Gulf Coast PADD 3 inventories gained 192,000 bbl to 4.912 bbl during the week ended March 8. West Coast PADD V ethanol inventories continued lower at 90,000 bbl to 2.343 bbl, while 8% lower from a year ago.

Net refiner and blender inputs, a measure for ethanol demand, moved 26,000 barrels per day (bpd), or 2.9%, higher to 921,000 bpd from week prior. For the four weeks ended March 8, blending demand averaged 896,000 bpd, up 4,000 bpd from the same four-week period in 2018.

Plant production continued lower to 1.005 million bpd, down by 19,000 bpd last week, while posting 2% decline against a year ago. Four-week averaged production was 1.013 million bpd versus 1.049 million bpd during the corresponding four-week period in 2018.

(AG)