EIA: Ethanol Stocks Higher
Post 3rd Weekly Gain, Highest in 10 Weeks
OAKHURST, N.J. (DTN) -- Ethanol inventory in the United States held higher for a third consecutive week, rising 2.5% to a 10-week high in the week ended Aug. 28, though demand edged up and production moved lower, according to midmorning data from the Energy Information Administration.
At 20.882 million barrels (bbl), domestic ethanol supply rose 473,000 bbl in the week profiled, a 12.2% year-over-year supply deficit.
Supply at the East Coast PADD 1 climbed 1.6% following a better 4% draw the week prior while Midwest inventory rose 3% following a 4.3% drop a week earlier. At the Gulf Coast PADD 3, stocks tumbled 7.3% in the final week of August.
During the week profiled, blending activity moved higher for the first time in three weeks, up 7,000 barrels per day (bpd) at 861,000 bpd in the week ended Aug. 28, 9.6% below this time in 2019, the data show. Blending activity during the four weeks ended Aug. 28 averaged 859,000 bpd, 100,000 bpd below the comparable year-ago period.
Ethanol plant production decreased after two weeks of gains, falling 9,000 bpd in the week profiled to 922,000 bpd, which was 10.6% lower than the corresponding week in 2019. Four-week average output is down 106,000 bpd against year ago at 924,000 bpd.
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