Last week, domestic ethanol demand was 14.3 BGY, down 0.4% compared to a week ago. The EIA-reported gas demand was down 0.4% from last week, at 138.0 BGY. The 4-week average ethanol and gas demand are 14.3 and 138.6 BGY (-1.5% YoY).
Ethanol production was 16.8 BGY last week, up 1.1% versus the week before, and 5.0% more than the 4-week average in 2019. Midwest production was up 1.3% (+3.8 MG) versus a week ago, and average production in the other regions was down 1.7% (-0.3 MG) on the East and West Coasts. Capacity utilization of plants online was 93.5% overall, 94.4% in the Midwest, and 79.9% on average, elsewhere, excluding 1,258 MGY of capacity shutdown at 25 ethanol plants for other than maintenance (details on pg. 30). On an installed capacity basis, utilization was 87.4% overall, 91.9% in the Midwest and 47.2% in the other regions.
Exports were an estimated 40.6 MG last week based on 180 MG forecast for August. The EIA reported no ethanol imports last week.
Overall inventory was up 3.1 MG last week. EIA-counted stocks decreased 46.5 MG, and regional changes were: East (-21 MG), Gulf (-13 MG) and West (-2 MG) Coasts and the Midwest (-11 MG). In-transit inventory levels increased 49.6 MG.
Based on the total inventory of 1,416 MG on August 8th and the 4-week avg. domestic demand, there were 36.0 days of supply, down 0.6 days from a week ago. Including the 4-week avg. of net exports, there were 31.4 days of supply, down 0.4 days from a week ago.