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EIA: Ethanol Stocks Up Nearly 5%% as Output Hits 2019 High
5/22 10:40 AM
EIA: Ethanol Stocks Up Nearly 5% as Output Hits 2019 High OAKHURST, N.J. (DTN) --- Ethanol supply in the United States increased for the first time in four weeks, rising 1.154 million bbl to a seven week high at 23.404 million bbl in the week ended May 17, according to data released midmorning by the Energy Information Administration. Data shows domestic ethanol supply at a 1.3 million bbl, or 5.9% supply surplus versus the same week in 2018. EIA reported East Coast PADD 1 ethanol stocks climbed 552,000 bbl to 7.863 million bbl in the week ended May 17, a seven-week high and 12.9% more than stocks held a year ago. PADD 2 Midwest ethanol inventories gained for the first time in four weeks, up 109,000 bbl to 8.113 million bbl, 2.5% higher than the corresponding week in 2018. Data showed Gulf Coast PADD 3 ethanol supply continued to seesaw, rising 454,000 bbl to 4.614 million bbl in the week ended May 17, an eight-week high and a 7% year-over-year supply surplus. West Coast PADD V stocks rose for a second week, edging up 9,000 bbl to a three-week high at 2.413 million bbl, down 4% versus a year earlier. EIA reported a third straight weekly increase in ethanol plant production, with output up 20,000 bpd on the week to 1.071 million bpd, the highest level of 2019. According to the data, the last time output breached 1.070 million bpd was the final week of August 2018. Data showed four-week average output at 1.046 million bpd, up 6,000 bpd from the same four-week period a year ago. Blending demand slipped, with refiner and blending net inputs of ethanol down 2,000 bpd in the week ended May 17 at 951,000 bpd, 7,000 bpd or 0.7% higher than the corresponding week last year. During the four weeks ended May 17, blending demand averaged 938,000 bpd, 5,000 bpd higher than the same four weeks in 2018. (c) 2019 DTN. All rights reserved.