Ethanol production retreats from last week but still up compared to a year ago

In Washington, D.C. ethanol production retreated 13,000 barrels per day (b/d), a 1.3% decrease, at an average of 1.057 million barrels per day (b/d)—equivalent to 44.39 million gallons daily, according to EIA data analyzed by the Renewable Fuels Association. However, it remains 16,000 b/d (1.5%) above year ago levels. The four-week average ethanol production rate moved 0.8% higher to 1.054 million b/d, equivalent to an annualized rate of 16.16 billion gallons (bg)—the second time this year to breach 16 bg.

Ethanol stocks shrank by 3.3% to 22.6 million barrels. However, this remains 6.4% higher than year-ago reserves. Stocks declined in all regions (PADDs) except the West Coast, which have been building for three straight weeks (up 2.3% since the start of May).

There were no imports reported by EIA for the 28th week in a row. (Weekly export data for ethanol is not reported simultaneously; the latest export data is as of March 2019.)

The volume of gasoline supplied declined 0.4% to 9.394 million b/d (394.5 million gallons per day, or 144.01 bg annualized). Refiner/blender net inputs of ethanol were trimmed 0.3% to 948,000 b/d, equivalent to 14.53 bg annualized. Expressed as a percentage of daily gasoline demand, daily ethanol production decreased to 11.25%.