Ethanol Supply Flat, Output Drops

Ethanol Supply Flat, Output Drops

CRANBURY, N.J. (DTN) -- U.S. ethanol stocks were little changed while domestic production plants throttled back output to the slowest pace since early May during the week-ended Aug. 21, data released Wednesday, Aug. 26, by the Energy Information Administration shows.

U.S. ethanol supply totaled 18.6 million barrels (bbl) on Aug. 21, holding near the lowest inventory level of the year for the third consecutive week. That's still more inventory than the year prior when supply totaled 17.3 million bbl.

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Regionally, 100,000 bbl builds were reported along the East and West coasts, with PADD 1 stocks at 6.6 million bbl and PADD 5 at 2.4 million bbl on Aug. 21. A 100,000 build drawdown in PADD 3 Gulf Coast ethanol supply was reported for last week, bringing the region's total supply to 3.1 million bbl. PADD 2 Midwest supply was flat at 6.2 million bbl and unchanged in the PADD 4 Rocky Mountain region at 300,000 bbl, with rounding affecting the totals.

U.S. ethanol plant production eased 13,000 barrels per day (bpd) to 952,000 bpd during the week profiled, the lowest output rate since the week-ended May 8. U.S. ethanol plant output averaged 961,000 bpd during the four weeks ended Aug. 21, up 40,000 bpd, or 4.3%, compared with year prior.

Refiner and blender net inputs of ethanol, a proxy for ethanol demand, eased 5,000 bpd to 903,000 bpd during the week under review. Ethanol inputs averaged 905,000 bpd during the four weeks ended Aug. 21, 26,000 bpd, or 3.0%, above the comparable year-ago period.

Implied gasoline demand tumbled 516,000 bpd to 9.189 million bpd during the week-ended Aug. 21, with gasoline supplied to market averaging 9.567 million bpd during the four weeks through this past Friday, up 5.8% versus year prior.

(BM/AG)

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