Ethanol Stocks Drop to 10-Week Low
NEW YORK (DTN) -- U.S. ethanol supplies plunged 800,000 barrels (bbl), or 3.8%, to a 10-week low of 20.5 million bbl during the week-ended March 27 while 29.4% higher versus a year ago, the Energy Information Administration reported Wednesday, April 1.
The stock draws were reported across the nation except in the Rocky Mountains region, where supplies were unchanged at 300,000 bbl.
P[L1] D[0x0] M[300x250] OOP[F] ADUNIT[] T[]
Plant production eased 1,000 barrels per day (bpd) to 952,000 bpd while up 3.25% year over year.
Blender inputs, a proxy for ethanol demand, increased 3,000 bpd to 869,000 bpd last week, while up 2.2% year over year.
EIA also reported implied demand for motor gasoline surged 816,000 bpd to 9.435 million bpd while up 8.3% year over year.
(BM/AG)
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