Last week, domestic ethanol demand was 14.5 BGY, down 0.4% compared to a week ago. The EIA-reported gas demand was down 0.4% from last week, at 138.8 BGY. The 4-week average ethanol and gas demand are 14.2 BGY and 135.6 BGY (+1.7% YoY).
Ethanol production was 15.9 BGY last week, down 7.1% versus the week before, and 1.8% more than the 4-week average in 2019. Midwest production was down 8.2% (-25.9 MG) versus a week ago, and average production in the other regions was up 15.1% (+2.4 MG), mainly in the USGC and East Coast. Ethanol production capacity utilization of plants online this week was 88.2% overall, 88.6% in the Midwest, and 81.5% 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 82.5% overall, 86.3% in the Midwest and 48.4% 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 27.8 MG last week. EIA-counted stocks increased 10.5 MG, and regional changes were: East (+0.4 MG), Gulf (+20 MG) and West (-3 MG) Coasts and the Midwest (-6 MG). In-transit inventory levels decreased 38.2 MG.
Based on the total inventory of 1,400 MG on April 17th and the 4-week avg. domestic demand, there were 36.6 days of supply, down 0.3 days from a week ago. Including the 4-week avg. of net exports, the days of supply were 30.9 days, down 0.2 days from a week ago.