Last week, domestic ethanol demand was 14.4 BGY, up 6.8% compared to a week ago. The EIA-reported gas demand was up 6.8% from last week, at 137.7 BGY. The 4-week average ethanol and gas demand are 14.0 BGY and 133.6 BGY (1.5% YoY).
Ethanol production was 16.8 BGY last week, up 2.7% versus the week before, and 12.6% more than the 4-week average, YoY. Midwest production was up 2.3% (+6.8 MG) versus a week ago, and average production in the other regions was up 10.9% (+1.8 MG) mainly on the East and Gulf Coasts. Ethanol production capacity utilization of plants online this week was 92.3% overall, 93.0% in the Midwest, and 80.9% on average, elsewhere, excluding 1,236 MGY of capacity shutdown at 24 ethanol plants for other than maintenance. On an installed capacity basis, utilization was 86.4% overall, 90.6% in the Midwest and 48.2% in the other regions.
Exports were an estimated 47.4 MG last week based on 210 MG forecast for October. The EIA reported no ethanol imports last week.
Overall inventory was down 5.7 MG last week. EIA-counted stocks increased 25.9 MG, and regional changes were: East ( -6 MG), Gulf (+8 MG) and West (+4 MG) Coasts and the Midwest (+19 MG). In-transit inventory levels decreased 31.6 MG.
Based on the total inventory of 1,285 MG on October 16th and the 4-week avg. domestic demand, there were 33.7 days of supply, down 0.4 days from a week ago. Including the 4-week avg. of net exports, the days of supply were 28.8 days, down 0.3 from a week ago.