Last week, domestic ethanol demand was 13.7BGY, down 4.2% compared to a week ago. The EIA-reported gas demand was down 4.2% from last week, at 131.1 BGY. The 4-week average ethanol and gas demand are 14.1 BGY and 134.9 BGY (-1.4% YoY).
Ethanol production was 16.8 BGY last week, down 1.0% versus the week before, and 7.3% more than the 4-week average in 2019. Midwest production was down 1.4% (-4.4 MG) versus a week ago, and average production in the other regions was up 7.0% (+1.2 MG). Ethanol production capacity utilization of plants online this week was 92.9% overall, 93.7% in the Midwest, and 81.2% 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 87.0% overall, 91.3% in the Midwest and 48.3% in the other regions.
Exports were an estimated 43.5 MG last week based on 190 MG forecast for August and 190 MG also forecast for September. The EIA reported no ethanol imports last week.
Overall inventory was up 12.9 MG last week. EIA-counted stocks increased 6.4 MG, and regional changes were: East (+4 MG), Gulf (-3 MG) and West (-10 MG) Coasts and the Midwest (+16 MG). In-transit inventory levels increased 6.5 MG.
Based on the total inventory of 1,333 MG on Sep 4th and the 4-week avg. domestic demand, there were 34.2 days of supply, up 0.6 days from a week ago. Including the 4-week avg. of net exports, the days of supply were 29.5 days, up 0.4 days from a week ago
Based on US Census data, ethanol exports in July were 217.9 MG, including an estimated 17.1 MG used to make ETBE for export with 14.8 MG to Japan (assuming 60% of ETBE exports were derived from U.S. corn ethanol) and 2.3 MG to The Netherlands. The major export destinations were Canada (78 MG), The Netherlands (43 MG), Vietnam (19 MG), UK and South Korea (13MG each), India (11 MG), Mexico (7 MG), Columbia and the Philippines (5 MG each), and lesser amounts to other countries. The total to Europe (EU + UK) was 66 MG. YTD 2026, exports have totaled 1,491 MG, 13% more than YTD 2025.
Based on US Census data, 1.3 MG of fuel ethanol was imported in July, all from Canada. YTD through July, imports have totaled 13.3 MG, 55% more than YTD 2025. In July, there were no ethanol imports reported for industrial use from Brazil, likely for ETBE production and re-export to Japan, and 23.1 MG YTD, -47% versus YTD 2025.