Last week, domestic ethanol demand was 14.5 BGY, down 0.1% compared to a week ago. The EIA-reported gas demand was down 0.1% from last week, at 138.4 BGY. The 4-week average ethanol and gas demand are 14.4 BGY and 137.4 BGY (+0.6% YoY).
Ethanol production was 17.0 BGY last week, down 2.3% versus the week before, and 5.6% more than the 4-week average in 2019. Midwest production was down 2.2% (-7.1 MG) versus a week ago, and average production in the other regions was down 3.2% (-0.6 MG). Ethanol production capacity utilization of plants online this week was 93.6% overall, 94.5% in the Midwest, and 79.9% 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 87.6% overall, 92.1% in the Midwest and 47.5% in the other regions.
Exports were an estimated 42.9 MG last week based on 190 MG forecast for July. The EIA reported no ethanol imports last week.
Overall inventory was up 1.1 MG last week. EIA-counted stocks decreased 8.5 MG, and regional changes were: East (+5 MG), Gulf (+5 MG) and West (+9 MG) Coasts and the Midwest (-28 MG). In-transit inventory levels increased 9.6 MG.
Based on the total inventory of 1,332 MG on July 31st and the 4-week avg. domestic demand, there were 33.7 days of supply, down 0.2 days from a week ago. Including the 4-week avg. of net exports, the days of supply were 29.2 days, down 0.1 days from a week ago.
Based on US Census data, ethanol exports in June were 219.5 MG, including an estimated 12.5 MG used to make ETBE for export with all to Japan (assuming 60% of ETBE exports were derived from U.S. corn ethanol). The major export destinations were Canada (78 MG), The Netherlands (45MG), Columbia (19 MG), UK (15 MG), Spain (13 MG), South Korea (7MG), Mexico (7 MG) and lesser amounts to other countries. The total to Europe (EU + UK) was 76 MG. YTD 2026, exports have totaled 1,273 MG, 12% more than YTD 2025.
Based on US Census data, 1.8 MG of fuel ethanol was imported in June, all from Canada. YTD through June, imports have totaled 11.9 MG, 50% more than YTD 2025.