Ethanol Stocks Hold Near 7-Month Low
WASHINGTON (DTN) -- Ethanol supply in the United States was little changed at 22.695 million barrels (bbl) as of April 26, holding near a seven-month low. Meanwhile, ethanol production reversed down from a 14-week high, according to data released Wednesday, May 1, by the Energy Information Administration.
Data shows domestic ethanol supply narrowed a surplus against a year ago to 600,000 bbl or 2.7%, while still remaining at a 28-week low.
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Regionally, East Coast PADD 1 ethanol stocks posted another build of 199,000 bbl to 7.725 million bbl in the week ended April 26, a better-than-4% year-over-year supply surplus.
PADD 2 Midwest ethanol inventories were drawn down a fourth straight week, down 212,000 bbl last week to 8.151 million bbl, which was up nearly 5% from a year ago. Data showed Gulf Coast PADD 3 ethanol supply fell 138,000 bbl to 4.063 million bbl in the week ended April 26 while West Coast PADD V stocks gained 107,000 bbl to 2.427 million bbl. At the Gulf, supply is at 7.9% year-over-year surplus while West Coast stocks are at a 14.3% deficit versus the last week of April 2018.
Ethanol plant production moved 24,000 bbl lower during the week ended April 26 to 1.024 million bbl, 2.3% lower on a week and 3.8% down from the prior year. Four-week average output was 1.022 million barrels per day (bpd), up 7,000 bpd from the four week average a year ago.
Blending demand was unchanged from the week prior at 928,000 bpd in the week ended April 26, but 5,000 bpd or 0.5% higher from a year ago. During the four weeks ended April 26, blending demand averaged 925,000 bpd, a steady 11,000 bpd higher than the same four weeks in 2018.
(BM/AG)
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