EIA: Ethanol Stocks Slide to 1-Year Low

CRANBURY, N.J. (DTN) -- Ethanol inventory in the United States was drawn down for the fourth consecutive week, falling 200,000 barrels (bbl) to a one-year low at 21.6 million bbl during the week-ended June 14, the Energy Information Administration reported on Wednesday, June 19.

The stock draw comes as U.S. ethanol production plants slowed output a modest 15,000 barrels per day (bpd) from a 10-1/2-month high to 1.081 million bpd -- the second-highest run rate of 2019. Four-week average production through June 14 at 1.07 million bpd is up 20,000 bpd, or 1.9%.

Ethanol stocks declined in PADD 1 East Coast by 100,000 bbl to 7.1 million bbl, up 1.4% against year ago, with PADD 2 Midwest inventory drawn down 200,000 bbl to 7.7 million bbl which matches the year-ago inventory level. PADD 3 Gulf Coast ethanol supply declined 200,000 bbl to 3.8 million bbl, 600,000 bbl less than year prior. Ethanol supply was unchanged at 400,000 bbl in PADD 4 Rocky Mountains reflecting a 100,000 bbl increase against year ago, while PADD 5 West Coast inventory increased 300,000 bbl to 2.6 million bbl, 400,000 bbl more than the same time in 2018.

Refinery and blender net inputs slid 11,000 bpd during the week reviewed to 942,000 bpd, up 7,000 bpd against a year ago. Blending demand during the four weeks ended June 14 averaged 943,000 bpd, 12,000 bpd, or 1.3%, above the comparable year-ago period.