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.

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