Ethanol Stocks Down; Output Lower

NEW YORK (DTN) -- U.S. ethanol inventories eased off a seven-week high last week, falling 545,000 barrels (bbl) to 20.797 million bbl during the week-ended April 24, new data from Energy Information Administration showed.

Compared to a year ago, total ethanol supplies are 3.6 million bbl, or 20.8%, higher.

Regionally, the stock draws were recorded in the PADD 2 Midwest, where supplies fell 300,000 bbl to 6.3 million, and PADD 3 Gulf Coast, where supplies declined 200,000 bbl to 3.8 million bbl.

The EIA data showed domestic production falling 9,000 barrels per day (bpd) to a 6-1/2 month low of 921,000 bpd for the week profiled while up 2.6% year over year. Blender inputs, a proxy for ethanol demand, declined 4,000 bpd to a three-week low of 875,000 bpd for the week while up 1.2% year over year.

Implied demand for gasoline dropped 265,000 bpd last week to 8.920 million bpd, 2.6% higher than the same week last year.

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

(BM/AG)

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