EIA: Ethanol Stocks Lowest Since End of December 2016

Source: By DTN Staff • Posted: Sunday, August 16, 2020

OAKHURST, N.J. (DTN) — Ethanol inventory in the United States tumbled 3% in the first week of August, sliding to the lowest level in more than 3 1/2 years as demand rose to a better-than-four-month high and production hit a three-week low, the latest data from the Energy Information Administration show.

At 19.750 million barrels (bbl), domestic ethanol stocks fell about 600,000 bbl to the lowest level since the final week of December 2016 at 18.678 million bbl. The year-over-year supply deficit widened to 17.6%.

During the week profiled, a 17,000-barrel-per-day (bpd) hike in blending activity pushed net refiner and blender ethanol inputs to 861,000 bpd in the week ended Aug. 7, the highest since the week ended March 20 at 874,000 bpd but down 11% from this time in 2019, EIA reported. Blending activity during the four weeks ended Aug. 7 averaged 849,000 bpd, about 100,000 bpd below the comparable year-ago period.

Ethanol plant production continued lower, falling 13,000 bpd in the week profiled to 918,000 bpd, 12% lower than the corresponding week in 2019. Four-week average output is down 110,000 bpd against year ago at 929,000 bpd.