Last week, domestic ethanol demand was 14.6 BGY, up 0.5% compared to a week ago. The EIA-reported gas demand was up 0.5% from last week, at 139.6 BGY. The 4-week average ethanol and gas demand are 14.3 BGY and 137.2 BGY (+1.2% YoY).
Ethanol production was 15.5 BGY last week, down 3.0% versus the week before, and 1.8% less than the 4-week average in 2019. Midwest production was down 2.2% (-6.5 MG) versus a week ago, and average production in the other regions was down 14.8% (-2.6 MG), mainly in the USGC and East Coast. Ethanol production capacity utilization of plants online this week was 85.6% overall, 86.6% in the Midwest, and 69.5% on average, elsewhere, excluding 1,236 MGY of capacity shutdown at 24 ethanol plants for other than maintenance. On an installed capacity basis, utilization was 80.1% overall, 84.4% in the Midwest and 41.3% in the other regions.
Exports were an estimated 51.3 MG last week based on 220 MG forecast for April. The EIA reported no ethanol imports last week.
Overall inventory was down 38.4 MG last week. EIA-counted stocks decreased 44.8 MG, and regional changes were: East (-12 MG), Gulf (-11 MG) and West (-6 MG) Coasts and the Midwest (-15 MG). In-transit inventory levels increased 6.4 MG.
Based on the total inventory of 1,362 MG on April 24th and the 4-week avg. domestic demand, there were 35.8 days of supply, down 0.8 days from a week ago. Including the 4-week avg. of net exports, the days of supply were 30.2 days, down 0.7 days from a week ago.