Ethanol production jumps 9% while stocks increase 3.2%

In Washington, according to Energy Information Adminstration data analyzed by the Renewable Fuels Association for the week ending October 14, ethanol production spiked 9.0percent to a ten-week high of 1.016 million b/d, equivalent to 42.67 million gallons daily. Production was 7.3percent less than the same week last year and 0.2percent above the five-year average for the week. The four-week average ethanol production volume increased 3.2percent to 923,000 b/d, equivalent to an annualized rate of 14.15 billion gallons (bg).

Ethanol stocks ticked down 0.1percent to 21.8 million barrels. However, stocks were 8.8percent higher than a year ago and 2.9percent above the five-year average. Inventories thinned in the Gulf Coast (PADD 3) and West Coast (PADD 5) but built across the other regions.

The volume of gasoline supplied to the U.S. market, a measure of implied demand, hiked up 4.9percent to 8.68 million b/d (133.03 bg annualized). Yet, demand was 9.9percent less than a year ago and 6.0percent below the five-year average.

Refiner/blender net inputs of ethanol rose 0.4percent to 908,000 b/d, equivalent to 13.92 bg annualized. Net inputs were 0.8percent higher than a year ago and 0.2percent above the five-year average.

Imports of ethanol arriving into the East Coast were 28,000 b/d, or 8.23 million gallons for the week. This marks the first imports in seven weeks and only the fifth week this year that ethanol was imported. (Weekly export data for ethanol is not reported simultaneously; the latest export data is as of August 2022.)