Ethanol Stocks Down from Record High

Source: By DTN/Progressive Farmer • Posted: Thursday, March 22, 2018

NEW YORK (DTN) — Domestic ethanol supply declined 500,000 barrels (bbl), or 2.1%, from a record high during the week-ended March 16 to 23.8 million bbl, although supply is up 1.2 million bbl, or 5.3%, versus a year ago, the U.S. Energy Information Administration’s latest weekly report shows.

Stocks fell in the Midwest by 200,000 bbl, or 2.2%, last week from a record high to 9.0 million. East Coast supply rose 300,000 bbl, or 4.2%, to 7.5 million bbl during the week-ended March 16. Gulf Coast supply plunged 700,000 bbl, or 14.3%, to 4.2 million bbl while West Coast rose 200,000 bbl, or 8.0%, to 2.7 million bbl.

Plant production increased 24,000 barrels per day (bpd), or 2.3%, to 1.049 million bpd last week while up 5,000 bpd, or 0.5%, compared to a year ago, with a number of plants returning from their seasonal maintenance programs. For the four-weeks to March 16, production averaged 1.044 bpd, up 7,000 bpd, or 0.7%, versus same period in 2017.

Net refiner and blender inputs, a measure for ethanol demand, increased 6,000 bpd, or 0.7%, last week to 916,000 bpd while down 1,000 bpd versus a year ago. For the four weeks to March 16, ethanol blending demand averaged 899,000 bpd, up 3,000 bpd, or 0.3%, versus same period in 2017.