U.S. Ethanol Stocks Return to Pandemic Highs

Source: By Kirk Maltais, MarketWatch • Posted: Thursday, March 17, 2022

Ethanol inventories in the U.S. have risen to their highest level since late April 2020, the early days of the Covid-19 pandemic.

In its latest weekly report, the Energy Information Administration said that for the week ended March 11 ethanol inventories totaled 25.95 million barrels, up from 25.27 million barrels reported last week. It’s the highest inventories have been since April 2020, when the EIA reported inventories of more than 26 million barrels.

The stockpiles are well above the forecasts of analysts surveyed by Dow Jones this week. Analysts had forecast stocks to be anywhere from 25.25 million barrels to 25.5 million barrels. Meanwhile, daily production sank slightly, to 1.026 million barrels per day from 1.028 million barrels per day reported last week. Analysts had forecast daily production to fall anywhere from 1.013 million barrels per day to 1.035 million barrels per day.

Corn futures trading on the Chicago Board of Trade are lower in trading Wednesday, as ag traders attempt to understand the effect of the ban on Russian energy exports on the world economy. The most-active contract is down 2.8% currently.

To see related data, search “U.S. DOE Oil Data: PADD Breakdown” in Dow Jones NewsPlus.

Write to Kirk Maltais at kirk.maltais@wsj.com