Ethanol production up 1% to 44.44M gallons daily

In Washington, D.C., ethanol production increased 10,000 barrels per day (b/d), or 1.0%, to 1.058 million b/d, equivalent to 44.44 million gallons daily, according to EIA data analyzed by the Renewable Fuels Association. Production was 17.6% above the same week last year, which was affected by the pandemic, but it was 2.1% below the same week in 2019.

The four-week average ethanol production volume rose 0.6% to 1.050 million b/d, equivalent to an annualized rate of 16.10 billion gallons (bg).

Ethanol stocks expanded for the seventh straight week, rising to 21.6 million barrels. This is 2.1% above the prior week and a fourteen-week high. Stocks were 7.0% above the year-ago level but 5.6% below the same week in 2019. Inventories rose across all regions except the Rocky Mountains (PADD 4).

The volume of gasoline supplied to the U.S. market, a measure of implied demand, declined 2.8% to 9.17  million b/d (140.62 bg annualized). Gasoline demand was 7.1% above a year ago but was 3.4% below the same week in 2019.

Refiner/blender net inputs of ethanol scaled 1.7% higher to 938,000 b/d, the highest level since Dec. 2019 and equivalent to 14.38 bg annualized. Net inputs were 13.1% above a year ago yet 1.0% below the same week in 2019.

Imports of ethanol arriving into the West Coast were 23,000 b/d, or 6.76 million gallons for the week. This was the second consecutive week of imports. (Weekly export data for ethanol is not reported simultaneously; the latest export data is as of April 2021.)