Last week, domestic ethanol demand was 14.2 BGY, unchanged compared to a week ago. The EIA-reported gas demand was unchanged from last week, at 135.6 BGY. The 4-week average ethanol and gas demand are 14.3 BGY and 136.4 BGY (-1.1% YoY).
Ethanol production was 15.9 BGY last week, down 4.8% versus the week before, and 3.0% less than the 4-week average in 2019. Midwest production was down 5.4% (-16.5 MG) versus a week ago, and average production in the other regions was up 4.9% (+0.9 MG) mainly in the Gulf Coast. Ethanol production capacity utilization of plants online this week was 88.2% overall, 88.4% in the Midwest, and 85.5% on average, elsewhere, excluding 1,236 MGY of capacity shutdown at 24 ethanol plants for other than maintenance. On an installed capacity basis, utilization was 82.5% overall, 86.1% in the Midwest and 50.8% in the other regions.
Exports were an estimated 42.9 MG last week based on 190 MG forecast for July. The EIA reported no ethanol imports last week.
Overall inventory was down 12.9 MG last week. EIA-counted stocks increased 19.4 MG, and regional changes were: East (+1 MG), Gulf (-2 MG) and West (+8 MG) Coasts and the Midwest (-2 MG). In-transit inventory levels decreased 32.3 MG.
Based on the total inventory of 1,283 MG on July 10th and the 4-week avg. domestic demand, there were 33.1 days of supply, up 0.2 days from a week ago. Including the 4-week avg. of net exports, the days of supply were 28.4 days, up 0.2 days from a week ago.