Last week, domestic ethanol demand was 14.7 BGY, up 1.4% compared to a week ago. The EIA-reported gas demand was up 1.4% from last week, at 142.6 BGY. The 4-week average ethanol and gas demand are 14.3 and 138.7 BGY (-0.9% YoY).
Ethanol production was 17.0 BGY last week, down 1.0% versus the week before, and 3.2% more than the 4-week average in 2019. Midwest production was down 0.8% (-2.6 MG) versus a week ago, and average production in the other regions was down 3.4% (-0.6 MG) mainly on the West Coast. Capacity utilization of plants online was 95.2% overall, 96.3% in the Midwest, and 77.5% on average, elsewhere, excluding 1,258 MGY of capacity shutdown at 25 ethanol plants for other than maintenance (details on pg. 31). On an installed capacity basis, utilization was 88.9% overall, 93.7% in the Midwest and 45.7% in the other regions.
Exports were an estimated 37.3 MG last week based on 160 MG forecast for June. The EIA reported no ethanol imports last week.
Overall inventory was up 2.0 MG last week. EIA-counted stocks increased 16.2 MG, and regional changes were: East (+1), Gulf (-2 MG) and West (+2) Coasts and the Midwest (+15 MG). In-transit inventory levels decreased 14.2 MG.
Based on the total inventory of 1,504 MG on June 13th and the 4-week avg. domestic demand, there were 38.0 days of supply, down 0.6 days versus a week ago. Including the 4-week avg. of net exports, there were 33.4 days of supply, down 0.4 days versus a week ago.