Last week, domestic ethanol demand was 14.1 BGY, up 5.0% compared to a week ago. The EIA-reported gas demand was up 5.0% from last week, at 136.1 BGY. The 4-week average ethanol and gas demand are 13.5 and 130.9 BGY (+0.9% YoY).
Ethanol production was 16.8 BGY last week, up 1.1% versus the week before, and 6.7% more than the 4-week average in 2019. Midwest production was up 0.7% (+2.1 MG) versus a week ago, and average production in the other regions was up 10.4% (+1.5 MG) mostly in the Gulf Coast region. Capacity utilization of plants online was 94.0% overall, 95.5% in the Midwest, and 72.3% 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 87.8% overall, 92.9% in the Midwest and 42.6% in the other regions.
Exports were an estimated 45.0 MG last week based on 180 MG forecast for February. The EIA reported no ethanol imports last week.
Overall inventory was up 2.5 MG last week. EIA-counted stocks decreased 11.8 MG, and regional changes were: East (-1 MG), Gulf (-15 MG) and West (-1 MG) Coasts and the Midwest (+4 MG). In-transit inventory levels increased 14.3 MG.
Based on the total inventory of 1,631 MG on Feb 28th and the 4-week avg. domestic demand, there were 43.7 days of supply, down 0.4 days versus a week ago. Including the 4-week avg. of net exports, there were 37.2 days of supply, down 0.3 days versus a week ago.