Last week, domestic ethanol demand was 14.3 BGY, up 1.2% compared to a week ago. The EIA-reported gas demand was up 1.2% from last week, at 137.2 BGY. The 4-week average ethanol and gas demand are 14.3 BGY and 137.1 BGY (+1.5% YoY).
Ethanol production was 16.8 BGY last week, up 5.2% versus the week before, and 2.9% more than the 4-week average in 2019. Midwest production was up 6.3% (+17.9 MG) versus a week ago, and average production in the other regions was down 10.9% (-2.1 MG) mainly in the East and Gulf Coasts. Ethanol production capacity utilization of plants online this week was 92.5% overall, 93.6% in the Midwest, and 75.9% 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 86.6% overall, 91.2% in the Midwest and 45.1% 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 0.1 MG last week. EIA-counted stocks increased 3.8 MG, and regional changes were: East (+16 MG), Gulf (-10 MG) and West (-6 MG) Coasts and the Midwest (+4 MG). In-transit inventory levels decreased 3.9 MG.
Based on the total inventory of 1,283 MG on July 17th and the 4-week avg. domestic demand, there were 32.9 days of supply, down 0.2 days from a week ago. Including the 4-week avg. of net exports, the days of supply were 28.3 days, down 0.1 days from a week ago.