Last week, domestic ethanol demand was 14.3 BGY, up 1.7% compared to a week ago. The EIA-reported gas demand was up 1.7% from last week, at 138.4 BGY. The 4-week average ethanol and gas demand are 14.0 BGY and 135.2 BGY (-2.6% YoY).
Ethanol production was 16.5 BGY last week, down 4.3% versus the week before, and 6.3% more than the 4-week average in 2019. Midwest production was down 4.4% (-13.8 MG) versus a week ago, and average production in the other regions was down 1.6% (-0.3 MG). Capacity utilization of plants online was 91.7% overall, 92.4% in the Midwest, and 82.2% 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 85.7% overall, 89.9% in the Midwest and 48.7% in the other regions.
Exports were an estimated 39.8 MG last week based on 180 MG forecast for October and 170 MG forecast for November. The EIA reported no ethanol imports last week.
Overall inventory was down 2.2 MG last week. EIA-counted stocks decreased 18.3 MG, and regional changes were: East (+6 MG), Gulf (-12 MG) and West (-5 MG) Coasts and the Midwest (-7 MG). In-transit inventory levels increased 16.1 MG.
Based on the total inventory of 1,316 MG on November 7th and the 4-week avg. domestic demand, there were 34.2 days of supply, down 0.2 days from a week ago. Including the 4-week avg. of net exports, there were 29.7 days of supply, down 0.1 days from a week ago.