Ethanol Stocks, Production, Demand Up

By George Orwel
DTN Progressive Farmer Energy Reporter

NEW YORK (DTN) -- The U.S. Energy Information Administration released a report Wednesday morning showing ethanol stocks in the United States climbed 100,000 barrels (bbl), or 0.7%, to 20.4 million bbl for the week-ended May 15 while 20.3% higher than the corresponding week a year earlier.

The EIA report showed soaring production, as domestic output jumped 46,000 barrels per day (bpd), or 5.0%, last week to a 958,000 bpd three-month high. Production was up 3.5% year over year.

Blender inputs, a gauge for ethanol demand, increased for the second straight week, up 15,000 bpd, or 1.7%, for the week to 906,000 bpd, the highest level since EIA started reporting ethanol data in the summer of 2010. The year-over-year increase was 2.3%.

Implied demand for gasoline again rose last week, gaining 60,000 bpd to 9.261 million bpd, while 0.9% higher than the same week last year, EIA data showed.

George Orwel can be reached at george.orwel@dtn.com

(BM/AG)

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