Last week, domestic ethanol demand was 13.5 BGY, down 4.9 % compared to a week ago. The EIA-reported gas demand was down 4.9% from last week, at 130.6 BGY. The 4-week average ethanol and gas demand are 13.8 and 133.4 BGY (-0.5% YoY).
Ethanol production was 15.3 BGY last week, down 2.8% versus the week before, and 1.3% more than the 4-week average in 2019. Midwest production was down 2.5% (-7.1 MG) versus a week ago, and average production in the other regions was down 8.3% (-1.5 MG) mainly on the East Coast. Capacity utilization of plants online was 85.1% overall, 85.9% in the Midwest, and 74.5% on average, elsewhere, excluding 1,258 MGY of capacity shutdown at 25 ethanol plants for other than maintenance (details on pg. 30). On an installed capacity basis, utilization was 79.6% overall, 83.5% in the Midwest and 44.0% in the other regions.
Exports were an estimated 39.7 MG last week based on 170 MG forecast for September. The EIA reported no ethanol imports last week.
Overall inventory was down 10.1 MG last week. EIA-counted stocks decreased 29.6 MG, and regional changes were: East (-12 MG), Gulf (+4 MG) and West (-10 MG) Coasts and the Midwest (-12 MG). In-transit inventory levels increased 19.5 MG.
Based on the total inventory of 1,277 MG on September 26th and the 4-week avg. domestic demand, there were 34.2 days of supply, up 0.5 days from a week ago. Including the 4-week avg. of net exports, there were 29.7 days of supply, up 0.4 days from a week ago.