Last week, domestic ethanol demand was 14.1 BGY, down 4.7% compared to a week ago. The EIA-reported gas demand was down 4.7% from last week, at 134.5 BGY. The 4-week average ethanol and gas demand are 14.1 BGY and 135.3 BGY (-3.0% YoY).
Ethanol production was 16.7 BGY last week, down 1.1% versus the week before, and 1.1% more than the 4-week average in 2019. Midwest production was down 0.4% (-1.2 MG) versus a week ago, and average production in the other regions was down 13.1% (-2.4 MG) mainly in the Gulf and East Coast. Ethanol production capacity utilization of plants online this week was 92.4% overall, 93.9% in the Midwest, and 70.8% 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 86.5% overall, 91.4% in the Midwest and 42.1% 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 up 0.2 MG last week. EIA-counted stocks increased 4.7 MG, and regional changes were: East (-6 MG), Gulf (+9 MG) and West (-7 MG) Coasts and the Midwest (+9 MG). In-transit inventory levels decreased 4.5 MG.
Based on the total inventory of 1,303 MG on June 19th and the 4-week avg. domestic demand, there were 33.7 days of supply, up 0.4 days from a week ago. Including the 4-week avg. of net exports, the days of supply were 28.8 days, up 0.4 days from a week ago.