Ethanol Stocks Rise Again
EIA: Ethanol Stocks at 12-Week High as Output Over 7-Month High
OAKHURST, N.J. (DTN) -- Domestic ethanol inventories posted a fourth consecutive weekly build, climbing to a 12-week high as production jumped to the highest level since March 20 while demand was at the lowest level since about mid-June, according to data from the Energy Information Administration released Wednesday, Nov. 25.
At 20.866 million barrels (bbl), domestic ethanol supply rose 663,000 bbl in the week reviewed, a 3% year-over-year supply surplus.
EIA reported East Coast PADD 1 inventory rose after two weeks of draws, up 1.6% to 6.3 million bbl, while Midwest PADD 2 supply jumped over 6% to 6.7 million bbl. At the Gulf Coast PADD 3, stocks increased 7.3% to 4.4 million bbl and stocks along the West Coast PADD 5 fell 3.2% to 3 million bbl.
Ethanol plant production jumped 28,000 bbl or 2.9% to 990,000 barrels per day (bpd) in the week ended Nov. 20, 6.5% lower than the corresponding week in 2019. Four-week average output is down 62,000 bpd against a year ago to 972,000 bpd.
Blending activity, a measure of demand, remained at 813,000 bpd in the week ended Nov. 20, the lowest level in over five months, while 12.6% lower than the same week in 2019, data show. Blending activity during the four weeks ended Nov. 20 averaged 824,000 bpd, 105,000 bpd below the comparable year-ago period.
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