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Ethanol Stocks Reach 6-Week High

Ethanol Stocks Reach 6-Week High

CRANBURY, N.J. (DTN) -- A roughly 200,000-barrel (bbl) build in ethanol stocks in the United States pushed total supply to a 23-million-bbl six-week high during the week-ended July 5, according to the Energy Information Administration, even as U.S. plant production dropped 3.1% to a five-week low while blending demand eased.

The stock build was concentrated in PADDs 2 Midwest and PADD 3 Gulf Coast, with Gulf Coast supply jumping 500,000 bbl during the week profiled to 4.6 million bbl. Ethanol supply in the Midwest increased 200,000 bbl to 8.3 million bbl, 700,000 bbl more than year ago.

Ethanol supply in the PADD 1 East Coast were drawn down 300,000 bbl to 7.2 million bbl, up 100,000 bbl against year ago. Ethanol stocks declined 100,000 bbl to 300,000 bbl in PADD 4 Rocky Mountains, and fell 200,000 bbl to 2.6 million bbl in PADD 5 West Coast.

Domestic ethanol production dropped 34,000 barrels per day (bpd) to 1.047 million bpd, although the output rate is 11,000 bpd or 1.4% above year ago. For the four weeks ended July 5, U.S. ethanol plant production averaged 1.07 million bpd, up 11,000 bpd or 1% against year ago.

Refiner and blender net ethanol inputs averaged 943,000 bpd last week, down 4,000 bpd from the previous week, while 13,000 bpd or 1.4% above the year-ago blend rate. For the four weeks ended July 5, ethanol blending demand averaged 946,000 bpd, 5,000 bpd more than during the comparable year-ago period.

(AG)

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