Last week, domestic ethanol demand was 14.0 BGY, up 5.4% compared to a week ago. The EIA-reported gas demand was up 5.4% from last week, at 134.1 BGY. The 4-week average ethanol and gas demand are 13.6 BGY and 130.1 BGY (+1.5% YoY).
Ethanol production was 17.1 BGY last week, up 0.7% versus the week before, and 11.1% more than the 4-week average in 2019. Midwest production was up 0.5% (+1.5 MG) versus a week ago, and average production in the other regions was up 5.3% (+0.9 MG). Ethanol production capacity utilization of plants online this week was 95.2% overall, 96.2% in the Midwest, and 80.5% 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 89.0% overall, 93.5% in the Midwest and 47.7% 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 8.4 MG last week. EIA-counted stocks increased 14.3 MG, and regional changes were: East (+2 MG), Gulf (+17 MG) and West (+3 MG) Coasts and the Midwest (-8 MG). In-transit inventory levels decreased 5.9 MG.
Based on the total inventory of 1,494 MG on February 13th and the 4-week avg. domestic demand, there were 39.8 days of supply, down 0.9 days from a week ago. Including the 4-week avg. of net exports, there were 33.9 days of supply, down 0.8 days from a week ago.