Ethanol production higher week over week, but still 5.2% lower than same week last year

In Washington, D.C., ethanol production scaled 2.1% higher, or 20,000 barrels per day (b/d), to a 32-week high (since March 20) of 961,000 b/d—equivalent to 40.36 million gallons daily, according to EIA data analyzed by the Renewable Fuels Association.

Still, production remained 5.2% below the same week last year. The four-week average ethanol production rate increased 1.0% to 938,000 b/d, equivalent to an annualized rate of 14.38 billion gallons (bg).

Ethanol stocks ticked 0.4% higher to 19.7 million barrels, which was 10.1% below year-ago volumes. Inventories built across all regions except the Gulf Coast (PADD 3) and Rocky Mountains (PADD 4).

The volume of gasoline supplied to the U.S. market, a measure of implied demand, declined 2.4% to 8.34 million b/d (127.79 bg annualized). Gasoline demand was 8.8% less than a year ago.

Refiner/blender net inputs of ethanol decreased 2.0% to 836,000 b/d, equivalent to 12.82 bg annualized. This was 8.8% below the year-earlier level as a result of the continuing effects of the COVID-19 pandemic.

Imports of ethanol arriving into the West Coast were 29,000 b/d, or 8.53 million gallons for the week and a seven-week high. This also marks the eleventh time in fifteen weeks that imports were reported. (Weekly export data for ethanol is not reported simultaneously; the latest export data is as of September 2020.)