Last week, domestic ethanol demand was 13.4 BGY, up 0.4% compared to a week ago. The EIA-reported gas demand was up 0.4% from last week, at 129.7 BGY. The 4-week average ethanol and gas demand are 13.5 and 130.4 BGY (-3.4% YoY).
Ethanol production was 15.5 BGY last week, down 0.9% versus the week before, and 0.9% more than the 4-week average in 2019. Midwest production was down 1.1% (-3.2 MG) versus a week ago, and average production in the other regions was up 3.6% (+0.6 MG), mainly in the Gulf and West Coast regions. Capacity utilization of plants online was 86.8% overall, 87.5% in the Midwest, and 77.5% on average, elsewhere, excluding 1,258 MGY of capacity shutdown at 25 ethanol plants for other than maintenance (details on pg. 31). On an installed capacity basis, utilization was 81.1% overall, 85.1% in the Midwest and 45.7% in the other regions.
Exports were an estimated 42.0 MG last week based on 180 MG forecast for April. The EIA reported no ethanol imports last week.
Overall inventory was down 5.7 MG last week. EIA-counted stocks decreased 9.2 MG, and regional changes were: East (-13 MG), Gulf (+8 MG) and West (+2 MG) Coasts and the Midwest (-6 MG). In-transit inventory levels increased 3.5 MG.
Based on the total inventory of 1,583 MG on Apr 11th and the 4-week avg. domestic demand, there were 43.0 days of supply, up 0.5 days versus a week ago. Including the 4-week avg. of net exports, there were 36.9 days of supply, up 0.4 days versus a week ago.