Last week, domestic ethanol demand was 13.4 BGY, down 6.9% compared to a week ago. The EIA-reported gas demand was down 6.9% from last week, at 128.1 BGY. The 4-week average ethanol and gas demand are 13.8 BGY and 132.3 BGY (-0.7% YoY).
Ethanol production was 17.1 BGY last week, up 2.2% versus the week before, and 10.1% more than the 4-week average, YoY. Midwest production was up 2.8% (+8.5 MG) versus a week ago, and average production in the other regions was down 8.2% (-1.5 MG) mainly on the East Coast. Ethanol production capacity utilization of plants online this week was 94.3% overall, 95.6% in the Midwest, and 74.3% 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 88.3% overall, 93.2% in the Midwest and 44.2% 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 up 20.5 MG last week. EIA-counted stocks decreased 1.5 MG, and regional changes were: East ( -12 MG), Gulf (-9 MG) and West (+13 MG) Coasts and the Midwest (+6 MG). In-transit inventory levels increased 22.0 MG.
Based on the total inventory of 1,305 MG on October 23rd and the 4-week avg. domestic demand, there were 34.1 days of supply, up 0.4 days from a week ago. Including the 4-week avg. of net exports, the days of supply were 29.0 days, up 0.2 from a week ago.