Last week, domestic ethanol demand was 14.5 BGY, up 2.1% compared to a week ago. The EIA-reported gas demand was up 2.1% from last week, at 140.3 BGY. The 4-week average ethanol and gas demand are 14.2 and 137.1 BGY (-3.0% YoY).
Ethanol production was 16.8 BGY last week, up 1.7% versus the week before, and 4.3% more than the 4-week average in 2019. Midwest production was up 1.4% (+4.1 MG) versus a week ago, and average production in the other regions was up 7.7% (+1.2 MG) mainly on the East Coast. Capacity utilization of plants online was 93.8% overall, 95.0% in the Midwest, and 75.8% 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 87.6% overall, 92.4% in the Midwest and 44.8% in the other regions.
Exports were an estimated 40.6 MG last week based on 180 MG forecast for July. The EIA reported no ethanol imports last week.
Overall inventory was down 0.6 MG last week. EIA-counted stocks increased 11.4 MG, and regional changes were: East (+11 MG), Gulf (+17 MG) and West (-2 MG) Coasts and the Midwest (-16 MG). In-transit inventory levels decreased 12.1 MG.
Based on the total inventory of 1,495 MG on July 25th and the 4-week avg. domestic demand, there were 38.5 days of supply, down 0.4 days from a week ago. Including the 4-week avg. of net exports, there were 33.5 days of supply, down 0.4 days from a week ago.