OAKHURST, N.J. (DTN) -- Domestic ethanol inventories increased a fifth straight week as of June 25 as another week of higher production offset an increase in demand, Energy Information Administration data released Wednesday, June 30, show.
Domestic ethanol plant production rose 10,000 barrels per day (bpd) to 1.058 million bpd while the four-week average output was at 1.050 million bpd, up 6,000 bpd from the four-week average the prior week.
EIA reported PADD 2 ethanol plant production gained 11,000 bpd to 1.013 million bpd as of June 25 with four-week average output at 1.004 million bpd.
Total ethanol inventories rose 452,000 barrels (bbl) to a 14-week high 21.572 million bbl last week as East Coast PADD 1 and Midwest PADD 2 stocks again climbed to multi-week highs.
PADD 1 ethanol inventories gained a fourth week, up 246,000 bbl to 6.875 million bbl to an eight-week high, while PADD 2 stocks held higher for a fifth week, up 90,000 bbl to a 19-week high 7.700 million bbl. West Coast PADD 5 supply rose for a second week, up 69,000 bbl to 2.662 million bbl, a 20-week high, and at the Gulf Coast PADD 3 stocks added 74,000 bbl to 4.032 million bbl.
Blending activity, a measure of demand, held higher for a third week, up 16,000 bpd to 938,000 bpd last week, the highest weekly blend rate since the week ended Nov. 8, 2019. Blending activity during the four weeks ended June 25 averaged 919,000 bpd versus 804,000 bpd during the comparable year-ago period.
Midwest PADD 2 blending demand added 2,000 bpd on the week while, at the Gulf Coast, demand gained 1,000 bpd. For the four weeks ended June 25, EIA reports PADD 2 blending activity averaged 252,000 bpd, while PADD 3 ethanol blending inputs was 152,000 bpd.
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