US Ethanol Stocks Rise
EIA: US Ethanol Stocks Off Multiyear Low as Output Jumps
OAKHURST, N.J. (DTN) -- Domestic ethanol inventories moved off a better-than-four-year low, climbing to the highest level in four weeks as overall production rose to a better-than-14-month high, Energy Information Administration data show.
Domestic ethanol plant production increased 23,000 barrels per day (bpd) or 2.3% to 1.034 million bpd, the highest level since the week ended March 13, 2020, while the four-week average output rate was at 1.014 million bpd.
EIA reported PADD 2 ethanol plant production gained 16,000 bpd to 985,000 bpd, matching output just two weeks ago, which was the highest weekly production rate in over a year.
Total ethanol inventories rose 608,000 barrels (bbl) to 19.588 million bbl last week, the highest level since the end of April.
East Coast PADD 1 ethanol inventories continued lower, down 72,000 bbl to 6.162 million bbl, the lowest level since late September 2020 while Midwest PADD 2 stocks rose 648,000 bbl to a seven-week high 6.858 million bbl.
Data show Gulf Coast PADD 3 fell 150,000 bbl to 3.728 million bbl, the lowest level since the last week of October 2020 while West Coast PADD 5 supply rose 181,000 bbl to 2.474 million bbl, a better than three-month high.
Blending activity, a measure of demand, recouped much of the prior week drop, gaining 10,000 bpd or 1.1% to 916,000 bpd last week. Blending activity during the four weeks ended May 28 averaged 908,000 bpd versus 694,000 bpd during the comparable year-ago period.
Midwest PADD 2 blending demand rose 6,000 bpd on the week while at the Gulf Coast demand added 1,000 bpd. For the four weeks ended May 28, EIA reports PADD 2 blending activity at 248,000 bpd while the PADD 3 blend rate was 149,000 bpd.
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