Last week, domestic ethanol demand was 14.0 BGY, up 0.1% compared to a week ago. The EIA-reported gas demand was up 0.1% from last week, at 134.4 BGY. The 4-week average ethanol and gas demand are 14.2 BGY and 135.8 BGY (+0.5% YoY).
Ethanol production was 17.0 BGY last week, up 2.7% versus the week before, and 5.7% 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 down 8.3% (-1.5 MG), mainly in the USGC. Ethanol production capacity utilization of plants online this week was 94.2% overall, 95.6% in the Midwest, and 73.5% 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 88.2% overall, 93.1% in the Midwest and 43.7% in the other regions.
Exports were an estimated 47.4 MG last week based on 210 MG forecast for May. The EIA reported no ethanol imports last week.
Overall inventory was up 5.9 MG last week. EIA-counted stocks increased 0.2 MG, and regional changes were: East (-10 MG), Gulf (+13 MG) and West (-5 MG) Coasts and the Midwest (+3 MG). In-transit inventory levels increased 5.7 MG.
Based on the total inventory of 1,324 MG on May 15th and the 4-week avg. domestic demand, there were 34.2 days of supply, down 0.1 days from a week ago. Including the 4-week avg. of net exports, the days of supply were 28.9 days, down 0.1 days from a week ago.