Ethanol Supply Slides to Fresh 10mos. Low at 22.25M Bbl
5/15 11:09 AM
Ethanol Supply Slides to Fresh 10mos. Low at 22.25M Bbl WASHIGNTON, D.C. (DTN) -- Ethanol inventories in the United States fell a third consecutive week as of May 10, with the draw realized even as plant output continued higher for the second straight week, data released midmorning by the Energy Information Administration shows. U.S. ethanol inventory fell 218,000 bbl to 22.3 million bbl in the week ended May 10, the lowest inventory level since late July 2018, although inventory remains at a year-on-year surplus, up 800,000 bbl or 3.7%. Regionally, PADD 1 East Coast stockpiles registered the largest decline, down 201,000 bbl to 7.311 million bbl, but still 7.4% higher than a year ago. PADD 2 Midwest and PADD 3 Gulf Coast stock levels remained mostly unchanged at 8.004 million bbl and 4.160 million bbl, respectively, with both regions at better than 2% surplus against the same week last year. Inventory builds of 9,000 bbl were registered in PADD 5 West Coast during the week-ended May 10 to 2.402 million bbl, with no change recorded for PADD 4 Rocky Mountain at 373,000 bbl in the profiled week. Ethanol plant production continued higher during the week profiled by 15,000 bpd or 1.4% to 1.051 million bpd---the fourth highest weekly output rate in 2019, while 7,000 bpd less than during the comparable week a year ago. During the four weeks ended May 10, ethanol plant production averaged 1.04 million bpd, up 11,000 bpd or 1.1% against year ago. Refiner and blender net inputs of ethanol gained 34,000 bpd or 3.7% to 953,000 bpd in the week-ended May 10, while four-week blending demand averaged 7,000 bpd more than the comparable year-ago period at 932,000 bpd. (c) 2019 DTN. All rights reserved.