Last week, domestic ethanol demand was 14.4 BGY, down 3.4% compared to a week ago. The EIA-reported gas demand was down 3.4% from last week, at 139.5 BGY. The 4-week average ethanol and gas demand are 14.0 and 135.7 BGY (+3.2% YoY).
Ethanol production was 15.9 BGY last week, up 0.7% versus the week before, and 1.2% more than the 4-week average in 2019. Midwest production was up 0.4% (+1.2 MG) versus a week ago, and average production in the other regions was up 5.3% (+0.9 MG). Capacity utilization of plants online was 89.2% overall, 89.7% in the Midwest, and 81.6% 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 83.4% overall, 87.3% in the Midwest and 48.1% 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 16.8 MG last week. EIA-counted stocks decreased 3.9 MG, and regional changes were: East (-16 MG), Gulf (+13 MG) and West (-3 MG) Coasts and the Midwest (+2 MG). In-transit inventory levels decreased 13.0 MG.
Based on the total inventory of 1,538 MG on Apr 25th and the 4-week avg. domestic demand, there were 40.9 days of supply, down 1.0 days versus a week ago. Including the 4-week avg. of net exports, there were 35.3 days of supply, down 0.8 days versus a week ago.