Last week, domestic ethanol demand was 13.8 BGY, up 2.3% compared to a week ago. The EIA-reported gas demand was up 2.3% from last week, at 133.8 BGY. The 4-week average ethanol and gas demand are 13.9 BGY and 134.7 BGY (+0.1% YoY).
Ethanol production was 17.1 BGY last week, up 2.0% versus the week before, and 7.6% more than the 4-week average in 2019. Midwest production was up 2.1% (+6.5 MG) versus a week ago, and average production in the other regions was unchanged with offsetting changes on the East and West Coasts. Capacity utilization of plants online was 95.0% overall, 96.1% in the Midwest, and 78.2% 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 88.8% overall, 93.5% in the Midwest and 46.3% in the other regions.
Exports were an estimated 39.7 MG last week based on 170 MG forecast for November. The EIA reported no ethanol imports last week.
Overall inventory was up 18.3 MG last week. EIA-counted stocks decreased 14.2 MG, and regional changes were: East (-15 MG), Gulf (+16 MG) and West (+6 MG) Coasts and the Midwest (-22 MG). In-transit inventory levels increased 32.5 MG.
Based on the total inventory of 1,337 MG on November 21st and the 4-week avg. domestic demand, there were 34.5 days of supply, up 0.6 days from a week ago. Including the 4-week avg. of net exports, there were 30.0 days of supply, up 0.5 days from a week ago.