Last week, domestic ethanol demand was 14.2 BGY, down 1.5% compared to a week ago. The EIA-reported gas demand was down 1.5% from last week, at 137.1 BGY. The 4-week average ethanol and gas demand are 13.8 BGY and 133.4 BGY (-1.9% YoY).
Ethanol production was 16.8 BGY last week, down 3.2% versus the week before, and 2.4% more than the 4-week average in 2019. Midwest production was down 3.7% (-11.8 MG) versus a week ago, and average production in the other regions was up 7.5% (+1.2 MG) mainly on the Gulf and West coasts. Capacity utilization of plants online was 93.5% overall, 94.6% in the Midwest, and 76.9% 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 87.3% overall, 92.0% in the Midwest and 45.5% in the other regions.
Exports were an estimated 40.6 MG last week based on 180 MG forecast for December. The EIA reported no ethanol imports last week.
Overall inventory was up 5.5 MG last week. EIA-counted stocks were increased 6.2 MG, and regional changes were: East (-6 MG), Gulf (-5 MG) and West (+6 MG) Coasts and the Midwest (+12 MG). In-transit inventory levels decreased 0.7 MG.
Based on the total inventory of 1,406 MG on December 19th and the 4-week avg. domestic demand, there were 36.8 days of supply, up 0.2 days from a week ago. Including the 4-week avg. of net exports, there were 32.0 days of supply, up 0.3 days from a week ago.