US Ethanol Stocks Fall
EIA: US Ethanol Stocks Down as Demand at More Than 1-Year High
OAKHURST, N.J. (DTN) -- Federal data detailed another draw in domestic ethanol inventories last week, with stocks falling to a 20-week low as blending demand, while down slightly on the week, remains at pre-pandemic levels, according to the Energy Information Administration.
Blending activity, a measure of demand, dipped 4,000 barrels per day (bpd) to 878,000 bpd last week, data show. Blending activity during the four weeks ended April 2 averaged 859,000 bpd, 136,000 bpd above the comparable year-ago period.
Midwest PADD 2 ethanol blending activity slipped 5,000 bpd on the week, while at the Gulf Coast, demand eased 1,000 bpd. For the four weeks ended April 2, EIA reports PADD 2 blending activity 38,000 bpd above the year prior, while PADD 3 activity was up 16,000 bpd.
Agency data show total ethanol supply last week dropped 472,000 bbl to 20.642 million bbl, the lowest level since the week ended Nov. 20, 2020, and 24% below the same week in 2020.
EIA reported East Coast PADD 1 stocks fell a second week, down 248,00 bbl to 7.148 million bbl, the lowest level since the first week of December 2020 and 26% below inventory on-hand this time last year, while Midwest PADD 2 also continued lower, down 199,000 bbl to a 19-week low 6.945 million bbl, 15% below a year ago.
At the Gulf Coast PADD 3, stocks gained 176,000 bbl to 4.501 million bbl, down 20% from last year, while data show West Coast PADD 5 stocks fell 193,000 bbl to 1.723 million bbl.
Overall ethanol plant production held higher, up 10,000 bpd or 1% to 975,000 bpd, the highest level since the week ended Dec. 18, 2020. Four-week average output at 958,000 bpd was 70,000 bpd higher than the corresponding four weeks in 2020.
Midwest PADD 2 production climbed 12,000 bpd to 929,000 bpd, while Gulf Coast PADD 3 output decreased 2,000 bpd to 16,000 bpd.
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