Last week, domestic ethanol demand was 14.0 BGY, down 1.8% compared to a week ago. The EIA-reported gas demand was down 1.8% from last week, at 135.5 BGY. The 4-week average ethanol and gas demand are 14.3 and 138.1 BGY (-1.2% YoY).
Ethanol production was 16.4 BGY last week, down 1.9% versus the week before, and 3.5% more than the 4-week average in 2019. Midwest production was down 1.5% (-4.7 MG) versus a week ago, and average production in the other regions was down 8.5% (-1.5 MG) mainly on the Gulf Coast. Capacity utilization of plants online was 91.7% overall, 93.0% in the Midwest, and 73.1% 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 85.7% overall, 90.4% in the Midwest and 43.2% in the other regions.
Exports were an estimated 40.6 MG last week based on 180 MG forecast for August. The EIA reported no ethanol imports last week.
Overall inventory was up 1.7 MG last week. EIA-counted stocks increased 1.6 MG, and regional changes were: East (+2 MG), Gulf (+2 MG) and West (unchanged) Coasts and the Midwest (-3 MG). In-transit inventory levels increased 0.1 MG.
Based on the total inventory of 1,418 MG on August 15th and the 4-week avg. domestic demand, there were 36.2 days of supply, up 0.2 days from a week ago. Including the 4-week avg. of net exports, there were 31.5 days of supply, up 0.1 days from a week ago.