Last week, domestic ethanol demand was 14.0 BGY, up 1.6% compared to a week ago. The EIA-reported gas demand was up 1.6% from last week, at 133.8 BGY. The 4-week average ethanol and gas demand are 14.2 BGY and 135.5 BGY (-0.5% YoY).
Ethanol production was 17.0 BGY last week, unchanged versus the week before, and 3.3% more than the 4-week average in 2019. Midwest production was up 0.2% (+0.6 MG) versus a week ago, and average production in the other regions was down 3.3% (-0.6 MG) mainly in the Gulf Coast. Ethanol production capacity utilization of plants online this week was 93.9% overall, 95.0% in the Midwest, and 78.9% on average, elsewhere, excluding 1,236 MGY of capacity shutdown at 24 ethanol plants for other than maintenance. On an installed capacity basis, utilization was 87.9% overall, 92.5% in the Midwest and 46.8% in the other regions.
Exports were an estimated 47.1 MG last week based on 210 MG forecast for May and 200 MG forecast for June. The EIA reported no ethanol imports last week.
Overall inventory was up 6.4 MG last week. EIA-counted stocks decreased 6.5 MG, and regional changes were: East (-15 MG), Gulf (+9 MG) and West (-2 MG) Coasts and the Midwest (+1 MG). In-transit inventory levels increased 12.9 MG.
Based on the total inventory of 1,313 MG on June 5th and the 4-week avg. domestic demand, there were 33.7 days of supply, unchanged from a week ago. Including the 4-week avg. of net exports, the days of supply were 28.7 days, up 0.1 days from a week ago.
Based on US Census data, ethanol exports in April were 182.5 MG, 2.8% less than April 2025, including an estimated 7.3 MG used to make ETBE for export with all to Japan (assuming 60% of ETBE exports were derived from U.S. corn ethanol). The major export destinations were Canada (65 MG), The Netherlands (28 MG), South Korea (19 MG), Philippines (11 MG), UK (10 MG), India and Peru (9 MG, each), Mexico (8 MG), Columbia and Nigeria (7 MG, each), Spain (6 MG), and lesser amounts to other countries. The total to Europe (EU + UK) was 44 MG. YTD 2026, exports have totaled 854 MG, 13% more than YTD 2025.
Based on US Census data, 1.6 MG of fuel ethanol was imported in April, all from Canada. YTD through April, imports have totaled 8.0 MG, 21% more than YTD 2025.