Last week, domestic ethanol demand was 13.7 BGY, down 1.7% compared to a week ago. The EIA-reported gas demand was down 1.7% from last week, at 132.5 BGY. The 4-week average ethanol and gas demand are 14.0 and 135.1 BGY (-1.0% YoY).
Ethanol production was 15.9 BGY last week, up 4.3% versus the week before, and 1.4% less than the 4-week average in 2019. Midwest production was up 5.0% (+13.8 MG) versus a week ago, and average production in the other regions was down 6.7% (-1.2 MG) mainly in the Gulf Coast. Capacity utilization of plants online was 88.9% overall, 89.7% in the Midwest, and 76.2% 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 83.0% overall, 87.3% in the Midwest and 44.9% in the other regions.
Exports were an estimated 38.4 MG last week based on 170 MG forecast for May. The EIA reported no ethanol imports last week.
Overall inventory was down 0.6 MG last week. EIA-counted stocks decreased 21.0 MG, and regional changes were: East (-4 MG), Gulf (+9 MG) and West (+7 MG) Coasts and the Midwest (-34 MG). In-transit inventory levels increased 20.5 MG.
Based on the total inventory of 1,526 MG on May 16th and the 4-week avg. domestic demand, there were 40.2 days of supply, up 0.6 days versus a week ago. Including the 4-week avg. of net exports, there were 35.0 days of supply, up 0.5 days versus a week ago.