Last week, domestic ethanol demand was 14.9 BGY, up 11.3% compared to a week ago. The EIA-reported gas demand was up 11.3% from last week, at 144.3 BGY. The large week-on-week increase is typical of the change in weekly demand before a holiday weekend. The 4-week average ethanol and gas demand are 13.8 and 133.4 BGY (-0.4% YoY).
Ethanol production was 15.8 BGY last week, up 2.1% versus the week before, and 1.1% more than the 4-week average in 2019. Midwest production was up 2.2% (+6.2 MG) versus a week ago, and average production in the other regions was unchanged. Capacity utilization of plants online was 88.6% overall, 89.4% in the Midwest, and 77.5% 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 82.8% overall, 86.9% 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 28.5 MG last week. EIA-counted stocks decreased 56.0 MG, and regional changes were: East (-6 MG), Gulf (-22 MG) and West (-8 MG) Coasts and the Midwest (-21 MG). In-transit inventory levels increased 27.5 MG.
Based on the total inventory of 1,554 MG on Apr 18th and the 4-week avg. domestic demand, there were 41.9 days of supply, down 1.1 days versus a week ago. Including the 4-week avg. of net exports, there were 36.1 days of supply, down 0.8 days versus a week ago.