Last week, domestic ethanol demand was 13.4 BGY, unchanged compared to a week ago. The EIA-reported gas demand was unchanged from last week, at 129.6 BGY. The 4-week average ethanol and gas demand are 13.6 BGY and 131.6 BGY (-3.6% YoY).
Ethanol production was 17.0 BGY last week, up 3.5% versus the week before, and 14.4% more than the 4-week average in 2019. Midwest production was up 2.6% (+7.9 MG) versus a week ago, and average production in the other regions was up 22.0% (+3.2 MG) mainly on the Gulf Coast. Capacity utilization of plants online was 94.9% overall, 95.8% 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 88.7% overall, 93.1% in the Midwest and 48.7% in the other regions.
Exports were an estimated 40.6 MG last week based on 180 MG forecast for October. The EIA reported no ethanol imports last week.
Overall inventory was up 25.3 MG last week. EIA-counted stocks decreased 29.8 MG, and regional changes were: East (-20 MG), Gulf (+4 MG) and West (-4 MG) Coasts and the Midwest (-10 MG). In-transit inventory levels increased 55.1 MG.
Based on the total inventory of 1,326 MG on October 17th and the 4-week avg. domestic demand, there were 34.9 days of supply, up 0.7 days from a week ago. Including the 4-week avg. of net exports, there were 30.2 days of supply, up 0.5 days from a week ago.