EIA: Ethanol Stocks at New Record High

Source: By DTN • Posted: Friday, March 29, 2019

East Coast PADD 1 stocks surged by the largest margin, gaining 458,000 bbl, or 5.3%, to 8.023 million bbl, or 14.3% higher from a year ago. At the Midwest PADD 2, stockpiles increased 133,000 bbl to 9.262 million bbl, a steep 10.7% higher from a year ago. Gulf Coast PADD 3 inventories moved 215,000 bbl lower to 4.649 million bbl, while still 4.5% higher from a year ago. West Coast PADD V ethanol inventories shifted sharply lower, shedding 332,000 bbl to 2.192 million bbl in the profiled week, down a steep 15.4% from prior year.

Net refiner and blender inputs, a measure for ethanol demand, gained 11,000 barrels per day (bpd) to 920,000 bpd in the week ended March 22, while posting a 2.2% increase from the year prior. For the four weeks through the prior Friday, blending demand totaled 911,000 bpd, fractionally higher from the same four-week period in 2018.

Plant production moved 29,000 bpd lower to 975,000 bpd in the week ended March 22, while posting 6.2% decline from year prior. Ethanol plant output in Midwest plunged 31,000 bpd to 904,000 bpd. Four-week averaged production was 1.002 million bpd versus 1.043 million bpd during the corresponding four-week period in 2018.

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