EIA: Stocks Climb to Record

EIA: Ethanol Stocks Climb to Record High, Production Flat

WASHINGTON, D.C. (DTN) -- Domestic ethanol inventories gained to a record high during the week ended March 15, with the build realized even as plant production remained flat, according to data released by the Energy Information Administration.

EIA reported domestic ethanol inventories jumped 681,000 barrels (bbl) to 24.412 million bbl, a 2.5% gain from the same week in 2018. Regionally, East Coast PADD 1 stocks increased 172,000 bbl to 7.565 million bbl, 1.3% higher from a year ago. At the Midwest PADD 2, stockpiles posted a sizable gain of 383,000 bbl to 9.129 million barrels per day (bpd), which is 4.6% higher from a prior week and 1.1% higher than a year ago. Gulf Coast PADD 3 inventories remained mostly unchanged at 4.864 bbl during the week ended March 15. West Coast PADD V ethanol inventories moved 181,000 bbl higher to 2.524 million bbl, while still a steep 7.4% lower from year prior.

Net refiner and blender inputs, a measure for ethanol demand, declined 12,000 bpd to 909,000 bpd in the week ended March 15, with the four-week average at 902,000 bpd, up 3,000 bpd from the same four-week period in 2018.

Plant production remained mostly unchanged at 1.004 million bpd last week, a 4.3% decline against year ago. Four-week averaged production was 1.015 million bpd versus 1.044 million bpd during the corresponding four-week period in 2018.

Brian Milne can be reached at Brian.Milne@dtn.com