Last week, domestic ethanol demand was 14.2 BGY, up 5.6% compared to a week ago. The EIA-reported gas demand was up 5.6% from last week, at 137.5 BGY. The 4-week average ethanol and gas demand are 14.0 and 135.1BGY (-4.9% YoY).
Ethanol production was 16.5 BGY last week, down 0.8% versus the week before, and 1.4% more than the 4-week average in 2019. Midwest production was down 0.2% (-0.6 MG) versus a week ago, and average production in the other regions was down 11.9% (-2.1 MG) mainly on the Gulf and East Coasts. Capacity utilization of plants online was 92.2% overall, 93.7% in the Midwest, and 70.4% on average, elsewhere, excluding 1,258 MGY of capacity shutdown at 25 ethanol plants for other than maintenance. On an installed capacity basis, utilization was 86.2% overall, 91.2% in the Midwest and 41.6% in the other regions.
Exports were an estimated 40.6 MG last week based on 180 MG forecast for July. The EIA reported no ethanol imports last week.
Overall inventory was down 0.3 MG last week. EIA-counted stocks increased 34.0 MG, and regional changes were: East (+2 MG), Gulf (+18 MG) and West (-6 MG) Coasts and the Midwest (+18 MG). In-transit inventory levels decreased 34.3 MG.
Based on the total inventory of 1,496 MG on July 18th and the 4-week avg. domestic demand, there were 38.9 days of supply, up 0.8 days from a week ago. Including the 4-week avg. of net exports, there were 33.9 days of supply, up 0.6 days from a week ago.