OAKHURST, N.J. (DTN) -- Total domestic ethanol inventories increased for a seventh straight week, rising to a 29-week high in the second week of December amid continued weak implied demand, according to the latest data from the Energy Information Administration released Wednesday, Dec. 16.
Blending activity, a measure of demand, moved off a 25-week low with a gain of 47,000 barrels per day (bpd) in the week ended Dec. 11 to 802,000 bpd. Still, blending activity for the week was 12.1% lower than the same week in 2019, data show. Blending activity during the four weeks ended Dec. 11 averaged 791,000 bpd, 110,000 bpd below the comparable year-ago period.
At 22.950 million barrels (bbl), domestic ethanol supply posted a build of 867,000 bbl in the week profiled, marking the highest level since May 22 while 5% more than a year ago.
EIA reported East Coast PADD 1 inventory increased a fourth week, up 396,000 bbl to a 27-week high 7.274 million bbl while Midwest PADD 2 supply declined for the first time in five weeks, down 56,000 bbl to 7.470 million bbl.
At the Gulf Coast PADD 3, stocks rose a second week, up 310,000 bbl to a 22-week high 4.588 million bbl and stocks along the West Coast PADD 5 gained 218,000 bbl to 3.185 million bbl, a nine-week high.
Ethanol plant production slid 34,000 bbl or 3.4% to a seven-week low 957,000 bpd in the week ended Dec. 11, 10.1% lower than the corresponding week in 2019. Four-week average output dropped 86,000 bpd against a year ago to 978,000 bpd.
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