Last week, domestic ethanol demand was 14.3 BGY, up 2.2% compared to a week ago. The EIA-reported gas demand was up 2.2% from last week, at 136.8 BGY. The 4-week average ethanol and gas demand are 14.1 BGY and 134.8 BGY (-0.9% YoY).
Ethanol production was 17.1 BGY last week, up 2.1% versus the week before, and 10.8% more than the 4-week average in 2019. Midwest production was up 2.5% (+7.6 MG) versus a week ago, and average production in the other regions was down 5.2% (-0.9 MG) mainly in Gulf Coast. Ethanol production capacity utilization of plants online this week was 95.0% overall, 96.4% in the Midwest, and 73.8% 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 88.8% overall, 93.8% in the Midwest and 43.8% in the other regions.
Exports were an estimated 49.7 MG last week based on 220 MG forecast for March. The EIA reported no ethanol imports last week.
Overall inventory was up 0.3 MG last week. EIA-counted stocks increased 32.0 MG, and regional changes were: East (unchanged), Gulf (+28 MG) and West (-9 MG) Coasts and the Midwest (+12 MG). In-transit inventory levels decreased 31.8 MG.
Based on the total inventory of 1,469 MG on March 20th and the 4-week avg. domestic demand, there were 38.2 days of supply, down 0.1 days from a week ago. Including the 4-week avg. of net exports, the days of supply were 32.3 days, down 0.1 days from a week ago.