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EIA: Ethanol Output Rebounds to 5-Week High Week of March 4

OAKHURST, N.J. (DTN) -- Domestic ethanol production rebounded in the first week of March, moving back above the 1 million-barrel-per-day level with stocks also recouping a good portion of the week prior's drop with a build of more than 325,000 barrels (bbl) through March 4, the Energy Information Administration reported midmorning.

EIA data show overall ethanol production rose 31,000 bpd to a five-week high 1.028 million bpd, about 10% more than the comparable week of March 2021. Four-week average output totaled 1.015 million bpd compared with 839,000 bpd reported in the same four-week period of 2021.

Midwest PADD 2 output increased 36,000 bpd or 3.8% to a five-week high 977,000 bpd, 9.3% above the corresponding week a year ago.

Net refiner, blender ethanol inputs held higher, jumping 20,000 bpd through March 4 to 896,000 bpd, a 10-week high and 9.5% above the same time last year.

At the East Coast PADD 1, the blending rate climbed 1,000 bpd while PADD 2 refiners and blenders reported an increase of 6,000 bpd and the Gulf Coast PADD 3 registered an 8,000-bpd week-over-week gain.

PADD 1 ethanol stocks rose 770,000 bbl to a better-than-one-year high 7.848 million bbl while PADD 2 supply moved off a record high with the first draw in four weeks. PADD 2 stocks fell 568,000 bbl to 10.220 million bbl as of March 4.

EIA data show PADD 3 ethanol stocks increased for the first time in five weeks, up 416,000 bbl to 4.115 million bbl last week, while PADD 5 inventory fell a second week, down 272,000 bbl to a six-week low 2.711 million bbl.

Overall domestic ethanol supply posted a build of 338,000 bbl to 25.271 million bbl as of March 4, 14.5% above stocks held the same week in 2021.