Last week, domestic ethanol demand was 14.0 BGY, down 0.2% compared to a week ago. The EIA-reported gas demand was down 0.2% from last week, at 133.9 BGY. The 4-week average ethanol and gas demand are 13.6 BGY and 130.1 BGY (+1.0% YoY).
Ethanol production was 17.1 BGY last week, down 0.4% versus the week before, and 10.2% 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 11.7% (-2.1 MG). Ethanol production capacity utilization of plants online this week was 94.7% overall, 96.3% in the Midwest, and 71.1% 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 88.6% overall, 93.7% in the Midwest and 42.2% 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 7.4 MG last week. EIA-counted stocks increased 2.4 MG, and regional changes were: East (-9 MG), Gulf (+18 MG) and West (+1 MG) Coasts and the Midwest (-6 MG). In-transit inventory levels increased 5.0 MG.
Based on the total inventory of 1,501 MG on February 20th and the 4-week avg. domestic demand, there were 39.9 days of supply, up 0.1 days from a week ago. Including the 4-week avg. of net exports, the days of supply 33.9 days, unchanged from a week ago.