EIA: Ethanol Stocks Lower

Ethanol Stocks Lower Despite Output Gain, Lower Demand

OAKHURST, N.J. (DTN) -- Ethanol inventory in the United States fell more than 3% in the week ended Oct. 18 despite ethanol plant production climbing to a five-week high, the Energy Information Administration reported on Wednesday, Oct. 23.

Ethanol stock levels were drawn down in the majority of the PADDs, with the exception of the Midwest PADD 2 producer region where supply continued higher.

PADD 3 Gulf Coast inventory dropped 270,000 barrels (bbl) to 4.283 million bbl during the profiled week, down about 600,000 bbl from a year ago, while PADD 1 East Coast stocks fell 358,000 bbl to 6.671 million bbl, 2.5 million bbl less than the same week in 2018. PADD 5 West Coast inventory were drawn down 210,000 bbl to 3.027 million bbl, about 100,000 bbl higher year-on-year.

In the producer PADD 2 region, ethanol inventory rose for a second week, up 161,000 bbl to 7.049 million bbl, about 800,000 bbl below year ago.

Ethanol output at U.S. plants rose for a fourth week, up 25,000 barrels per day (bpd) to 996,000 bpd during the profiled week, with output in the Midwest at 925,000 bpd for a gain of 20,000 bpd on the week. Compared with a year ago, U.S. plant production is down 28,000 bpd, or 2.7%. During the four weeks ended Oct. 18, plant production averaged 972,000 bpd, 51,000 bpd below the comparable output rate a year ago.

Refiner and blender net ethanol inputs dropped 14,000 bpd to 928,000 bpd, while 12,000 bpd below a year ago. During the four weeks ended Oct. 18, blending demand averaged 928,000 bpd, up 2,000 bpd against the corresponding period in 2018.