OAKHURST, N.J. (DTN) -- Domestic ethanol inventory fell more than 2.5% in the first week of March as blending demand jumped to an 11-week high while plant production dropped from a four-week high, the Energy Information Administration reported midmorning.
Data show U.S. ethanol supply dropped 630,000 barrels (bbl) to 24.334 million bbl, a five-week low but 2.5% higher than same week last year.
Ethanol supply in PADD 1 East Coast declined a third straight week, down 171,000 bbl to 8.380 million bbl, a five-week low but a 13.5% year-over-year supply surplus. PADD 2 Midwest inventories slid 510,000 bbl to 8.135 million, leaving stocks in the producing region 6.9% lower than the corresponding week in 2019.
PADD 3 Gulf Coast ethanol supply decreased 169,000 bbl to 4.468 million bbl in the week ended March 6, an 8.2% year-over-year supply deficit. PADD 5 West Coast ethanol supply continued higher, up 225,000 bbl to 2.956 million bbl last week.
Plant operators cut production 35,000 barrels per day (bpd) in the week profiled to 1.044 million bpd, up about 4% from the same week last year. For the four weeks ended March 6, output averaged 1.054 million bpd versus 1.013 million bpd in the same four weeks of 2019.
Refiner and blender net inputs jumped 22,000 bpd to average 919,000 bpd, the highest level since the week ended Dec. 20, 2019, at 938,000 bpd. Demand for the week profiled was down 0.2% from the corresponding week in 2019. During the four weeks ended March 6, blending activity averaged 904,000 bpd, up 8,000 bpd against a year ago.
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