Ethanol Stocks Rise
EIA: Ethanol Stocks at 11-Week High as Demand Hits 22-Week Low
OAKHURST, N.J. (DTN) -- Domestic ethanol inventories held to the upside for a third straight week, rising to an 11-week high as demand dropped to the lowest level in five months, according to data released on Wednesday, Nov. 18, by the Energy Information Administration.
At 20.203 million barrels (bbl), domestic ethanol supply added 44,000 bbl in the week reviewed, down 1.5% from the same time in 2019.
EIA reported East Coast PADD 1 declined a second week, down 1.6% to 6.2 million bbl while Midwest PADD 2 supply jumped over 3% to 6.3 million bbl.
At the Gulf Coast PADD 3, stocks dropped 2.4% to 4.1 million bbl and stocks along the West Coast PADD 5 stocks were marginally higher at 3.1 million bbl.
Ethanol plant production dropped for the first time in four weeks, down 15,000 barrels per day (bpd) or 1.5% to 962,000 bpd in the week ended Nov. 13, 7% lower than the corresponding week in 2019. Four-week average output at 960,000 bpd slid 60,000 bpd against a year ago.
Blending activity, a measure of demand, fell for a third week, sliding 21,000 bpd or 2.5% to 813,000 bpd in the week ended Nov. 13, the lowest level since about mid-June while 12.5% lower than the same week in 2019, data show. Blending activity during the four weeks ended Nov. 13 averaged 834,000 bpd, about 100,000 bpd below the comparable year-ago period.
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