Ethanol Stocks, Production Rebound
NEW YORK (DTN) -- The Energy Information Administration released data Thursday showing domestic ethanol inventories rebounded last week from a three-month low, rising about 400,000 barrels (bbl), or 2.1%, to 17.7 million bbl during the week-ended Aug. 29, as domestic production rose while demand eased.
Total U.S. ethanol inventories remained 9% higher than a year ago.
P[L1] D[0x0] M[300x250] OOP[F] ADUNIT[] T[]
The majority of last week's stock build was reported along the PADD I East Coast and for PADD 2 Midwest. East Coast supplies climbed 300,000 bbl to 6.8 million bbl for the week, a five-week high, while Midwest stocks rose 200,000 bbl to 5.9 million bbl, the data showed.
Domestic ethanol production increased 9,000 bpd, or 1.0%, last week to 921,000 bpd while 12.5% higher than a year prior, with four-week average output up 10.8%.
Blender inputs, a proxy for ethanol demand, dropped 9,000 bpd, or 1.0%, to 880,000 bpd last week while rising 2.2% year-over-year, with four-week average demand up 2.1% year-over-year.
(BM/AG)
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