Last week, domestic ethanol demand was 14.8 BGY, up 5.5% compared to a week ago. The EIA-reported gas demand was up 5.5% from last week, at 141.2 BGY. The 4-week average ethanol and gas demand are 14.3 BGY and 137.2 BGY (-1.1% YoY).
Ethanol production was 16.9 BGY last week, down 0.5% versus the week before, and 2.5% more than the 4-week average in 2019. Midwest production was down 0.8% (-2.4 MG) versus a week ago, and average production in the other regions was up 3.4% (+0.6 MG) mainly in the Gulf Coast. Ethanol production capacity utilization of plants online this week was 93.4% overall, 94.2% in the Midwest, and 81.5% 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 87.5% overall, 91.8% in the Midwest and 48.4% in the other regions.
Exports were an estimated 46.7 MG last week based on 200 MG forecast for June. The EIA reported no ethanol imports last week.
Overall inventory was down 9.7 MG last week. EIA-counted stocks increased 0.9 MG, and regional changes were: East (+4 MG), Gulf (-10 MG) and West (+5 MG) Coasts and the Midwest (+2 MG). In-transit inventory levels decreased 10.6 MG.
Based on the total inventory of 1,303 MG on June 12th and the 4-week avg. domestic demand, there were 33.3 days of supply, down 0.4 days from a week ago. Including the 4-week avg. of net exports, the days of supply were 28.4 days, down 0.3 days from a week ago.