Ethanol Stocks at 35wks High despite Modest Demand Boost
1/13 10:35 AM
Ethanol Stocks at 35wks High despite Modest Demand Boost OAKHURST, N.J. (DTN) --- Total domestic ethanol inventories increased 1.7% in the week ended Jan. 8 as production continued higher while demand, though up 4% from a week earlier, remains more than 12% below a year earlier, midmorning data from the Energy Information Administration show. Blending activity, a measure of demand, gained 29,000 bpd to 748,000 bpd, down 12.4% from the same week in 2020, data show. Blending activity during the four weeks ended Jan. 8 averaged 772,000 bpd, 97,000 bpd below the comparable year-ago period. At a 35-week high 23.692 million bbl, domestic ethanol supply gained 408,000 bbl in the week reviewed, 3% more than a year ago. EIA reported East Coast PADD 1 rose 652,000 bbl to a 33-week high 7.839 million bbl while Midwest PADD 2 supply added 54,000 bbl to 7.958 million bbl. At the Gulf Coast PADD 3, stocks declined for the first time in three weeks, down 63,000 bbl to 4.579 million bbl and stocks along the West Coast PADD 5 stocks dropped 229,000 bbl to 2.938 million bbl. Ethanol plant production gained 6,000 bpd to 941,000 bpd in the week ended Jan. 8, 14.1% lower than the corresponding week in 2019. Four-week average output dropped 131,000 bpd against year ago to 946,000 bpd. (c) Copyright 2021 DTN, LLC. All rights reserved.