Last week, domestic ethanol demand was 13.3 BGY, down 5.0% compared to a week ago. The EIA-reported gas demand was down 5.0% from last week, at 127.1 BGY. The 4-week average ethanol and gas demand are 13.6 BGY and 130.6 BGY (-0.2% YoY).
Ethanol production was 16.8 BGY last week, down 1.6% versus the week before, and 6.9% 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 3.8% (-0.6 MG), all on the USGC. Ethanol production capacity utilization of plants online this week was 93.2% overall, 94.9% in the Midwest, and 68.5% 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 87.1% overall, 92.3% in the Midwest and 40.6% in the other regions.
Exports were an estimated 47.5 MG last week based on 190 MG forecast for February. The EIA reported no ethanol imports last week.
Overall inventory was up 15.7 MG last week. EIA-counted stocks increased 29.0 MG, and regional changes were: East (+11 MG), Gulf (+3 MG) and West (-1 MG) Coasts and the Midwest (+16 MG). In-transit inventory levels decreased 13.3 MG.
Based on the total inventory of 1,475 MG on February 27th and the 4-week avg. domestic demand, there were 39.0 days of supply, up 0.2 days from a week ago. Including the 4-week avg. of net exports, the days of supply 33.1 days, up 0.1 days from a week ago.