US Ethanol Stocks Fall
US Ethanol Stocks Down as Demand Gains, Output at 5-Week Low
OAKHURST, N.J. (DTN) -- U.S. ethanol inventories fell for the first time in five weeks through April 1 as production declined to the lowest level since late February while demand increased by 1.3%, the latest data from the Energy Information Administration show.
Total ethanol production declined a second week, falling 33,000 barrels per day (bpd) to 1.003 million bpd last week. Output was 2.9% higher than the same time in 2021, while four-week average output totaled 1.027 million bpd, up 69,000 bpd from four-week period of 2021.
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Still, domestic ethanol production has been above 1 million bpd in 24 of the past 26 weeks.
EIA data show Midwest PADD 2 output continued lower, falling 36,000 bpd to 946,000 bpd through April 1. Output was 1.8% above the corresponding week a year ago.
U.S. refiner and net blender ethanol increased after two weekly declines, up 11,000 bpd to 858,000 bpd in the week profiled while down 2.3% versus the same week in 2021.
At the East Coast PADD 1, the blending rate rose 4,000 bpd while PADD 2 registered a 3,000 bpd gain on the week and at the Gulf Coast PADD 3, refiners and blenders reported an increase of 4,000 bpd.
Overall ethanol inventories fell 626,000 barrels (bbl) to 25.903 million bbl as of April 1 as stocks were drawn down in all major PADDs.
PADD 1 ethanol stocks posted the first draw in five weeks, down 197,000 bbl to 8.234 million while PADD 2 inventory fell 205,000 bbl to 10.352 million bbl through April 1. Data show PADD 3 ethanol stocks declined a second week, down 124,000 bbl to 4.240 million bbl last week, and PADD 5 inventory fell for the first time in three weeks, down 110,000 bbl to 2.698 million bbl.
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