Last week, domestic ethanol demand was 14.5 BGY, up 1.1% compared to a week ago. The EIA-reported gas demand was up 1.1% from last week, at 138.6 BGY. The 4-week average ethanol and gas demand are 14.3 BGY and 136.7 BGY (-0.3% YoY).
Ethanol production was 17.4 BGY last week, up 3.6% versus the week before, and 7.8% more than the 4-week average in 2019. Midwest production was up 3.3% (+10.0 MG) versus a week ago, and average production in the other regions was up 8.8% (+1.5 MG) mainly in the East and Gulf Coasts. Ethanol production capacity utilization of plants online this week was 95.8% overall, 96.7% in the Midwest, and 82.6% 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 89.7% overall, 94.2% in the Midwest and 49.1% 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 up 8.4 MG last week. EIA-counted stocks increased 10.3 MG, and regional changes were: East (-1 MG), Gulf (+2 MG) and West (+9 MG) Coasts and the Midwest (+0.4 MG). In-transit inventory levels decreased 1.9 MG.
Based on the total inventory of 1,291 MG on July 24th and the 4-week avg. domestic demand, there were 32.9 days of supply, unchanged from a week ago. Including the 4-week avg. of net exports, the days of supply were 28.4 days, up 0.1 days from a week ago.