Last week, domestic ethanol demand was 13.4 BGY, up 1.6% compared to a week ago. The EIA-reported gas demand was up 1.6% from last week, at 129.6 BGY. The 4-week average ethanol and gas demand are 13.5 BGY and 130.4 BGY (-1.3% YoY).
Ethanol production was 16.9 BGY last week, down 1.9% versus the week before, and 4.6% more than the 4-week average in 2019. Midwest production was down 2.1% (-6.5 MG) versus a week ago, and average production in the other regions was up 1.7% (+0.3 MG) in the Gulf and West Coast. Capacity utilization of plants online was 94.3% overall, 95.3% in the Midwest, and 79.5% 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 88.1% overall, 92.7% in the Midwest and 47.1% in the other regions.
Exports were an estimated 40.2 MG last week based on 170 MG forecast for November and 180 MG forecast for December. The EIA reported no ethanol imports last week.
Overall inventory was up 23.6 MG last week. EIA-counted stocks were unchanged, and regional changes were: East (-7 MG), Gulf (-2 MG) and West (-1 MG) Coasts and the Midwest (+10 MG). In-transit inventory levels increased 23.6 MG.
Based on the total inventory of 1,378 MG on December 5th and the 4-week avg. domestic demand, there were 36.2 days of supply, up 1.2 days from a week ago. Including the 4-week avg. of net exports, there were 31.4 days of supply, up 1.0 days from a week ago.