OAKHURST, N.J. (DTN) -- Energy Information Administration data show domestic ethanol inventories edged up slightly from a better-than-four-year low as output climbed to a more-than-one-year high while demand jumped to the highest weekly rate since late December 2019.
Agency data show total ethanol inventories added 40,000 barrels (bbl) to 19.433 million bbl in the week ended May 14.
Midwest PADD 2 ethanol inventories gained 43,000 bbl to 6.338 million bbl while East Coast PADD 1 stocks again declined, down 36,000 bbl to 6.482 million bbl, also the lowest level since Nov. 20, 2020.
Data show Gulf Coast PADD 3 also continued lower, down 224,000 bbl to 3.848 million bbl, the lowest supply level since the last week of October 2020 while West Coast PADD 5 supply rose 259,000 bbl to 2.406 million bbl.
Overall ethanol plant production held higher, up 53,000 barrels per day (bpd) or 5.4% to 1.032 million bpd, the highest output level since March 13, 2020, while four-week average output was at 977,000 bpd.
EIA reported PADD 2 ethanol plant production rose a fourth straight week, jumping 45,000 bpd or 4.8% to 985,000 bpd, the highest level since the final week of February 2020.
Blending activity, a measure of demand, jumped 35,000 bpd or 3.9% to 923,000 bpd last week, the highest level since the week ended Dec. 20, 2019, at 938,000 bpd. Blending activity during the four weeks ended May 14 averaged 894,000 bpd versus 631,000 bpd during the comparable year-ago period.
Midwest PADD 2 blending demand held higher, up 12,000 bpd on the week while at the Gulf Coast demand rose 7,000 bpd. For the four weeks ended May 14, EIA reports PADD 2 blending activity at 243,000 bpd while PADD 3 activity was 149,000 bpd.
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