OAKHURST, N.J. (DTN) -- Ethanol inventory in the United States declined for a second week, sliding to the lowest level in more than two years despite another weekly gain in ethanol plant production that pushed output to a seven-week high, the Energy Information Administration reported on Wednesday, Oct. 30.
Ethanol stock levels were again 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 declined 138,000 barrels (bbl) to 4.145 million bbl during the profiled week, down about 600,000 bbl from a year ago, while PADD 1 East Coast stocks declined 44,000 bbl to 6.627 million bbl, roughly 900,000 bbl less than the same week in 2018. PADD 5 West Coast inventory decreased 85,000 bbl to 2.942 million bbl, about 100,000 bbl higher year on year.
In the producer PADD 2 region, ethanol inventory gained for a third week, up 4,000 bbl to 7.053 million bbl, about 300,000 bbl below year ago.
Ethanol output at U.S. plants increased for a fifth week, up 8,000 barrels per day (bpd) to 1.004 million bpd during the profiled week, the highest level since early September. Output in the Midwest was indexed at 923,000 bpd for a dip of 1,000 bpd on the week. Compared with a year ago, U.S. plant production is down 55,000 bpd, or 5.2%. During the four weeks ended Oct. 25, plant production averaged 984,000 bpd, 50,000 bpd below the comparable output rate a year ago.
Refiner and blender net ethanol inputs rose 8,000 bpd to 936,000 bpd, while flat versus a year ago. During the four weeks ended Oct. 25, blending demand averaged 931,000 bpd, steady against the corresponding period in 2018.
Copyright 2019 DTN/The Progressive Farmer. All rights reserved.