Last week, domestic ethanol demand was 14.0 BGY, down 4.0% compared to a week ago. The EIA-reported gas demand was down 4.0% from last week, at 135.2 BGY. The 4-week average ethanol and gas demand are 14.0 and 135.4 BGY (-0.01% YoY).
Ethanol production was 16.9 BGY last week, up 4.0% versus the week before, and 8.3% more than the 4-week average in 2019. Midwest production was up 4.9% (+14.4 MG) versus a week ago, and average production in the other regions was down 11.1% (-1.8 MG), mainly in the Gulf and East Coast regions. Capacity utilization of plants online was 95.1 overall, 97.1% in the Midwest, and 65.5% on average, elsewhere, excluding 1,258 MGY of capacity shutdown at 25 ethanol plants for other than maintenance. On an installed capacity basis, utilization was 88.8% overall, 94.4% in the Midwest and 38.6% in the other regions.
Exports were an estimated 42.9 MG last week based on 190 MG forecast for March. The EIA reported no ethanol imports last week.
Overall inventory was up 9.9 MG last week. EIA-counted stocks decreased 33.6 MG, and regional changes were: East (-2 MG), Gulf (+5 MG) and West (-7 MG) Coasts and the Midwest (-31 MG). In-transit inventory levels increased 43.6 MG.
Based on the total inventory of 1,627 MG on Mar 14th and the 4-week avg. domestic demand, there were 42.4 days of supply, down 0.7 days versus a week ago. Including the 4-week avg. of net exports, there were 36.4 days of supply, down 0.4 days versus a week ago.