Last week, domestic ethanol demand was 13.9 BGY, up 0.9% compared to a week ago. The EIA-reported gas demand was up 0.9% from last week, at 134.8 BGY. The 4-week average ethanol and gas demand are 14.3 and 138.1 BGY (+3.8% YoY).
Ethanol production was 15.2 BGY last week, down 2.6% versus the week before, and 5.0% less than the 4-week average in 2019. Midwest production was down 3.6% (-10.3 MG) versus a week ago, and average production in the other regions was up 15.4% (+2.4 MG) mainly in the Gulf Coast. Capacity utilization of plants online was 85.2% overall, 85.4% in the Midwest, and 81.6% 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 79.6% overall, 83.1% in the Midwest and 48.1% 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 17.8 MG last week. EIA-counted stocks increased 10.7 MG, and regional changes were: East (+2 MG), Gulf (+17 MG) and West (-13 MG) Coasts and the Midwest (+5 MG). In-transit inventory levels decreased 28.4 MG.
Based on the total inventory of 1,527 MG on May 9th and the 4-week avg. domestic demand, there were 39.6 days of supply, down 0.9 days versus a week ago. Including the 4-week avg. of net exports, there were 34.5 days of supply, down 0.6 days versus a week ago.