Ethanol production rose slightly while stocks jump to 42-week high

In Washington, according to Energy Information Administration data analyzed by the Renewable Fuels Association for the week ending January 20, ethanol production ticked up 0.4 percent to 1.012 million b/d, equivalent to 42.50 million gallons daily. Production was 2.2 percent lower than the same week last year but 0.2 percent above the five-year average for the week. The four-week average ethanol production rate increased 1.3 percent to 952,000 b/d, equivalent to an annualized rate of 14.59 billion gallons (bg).

Ethanol stocks swelled 7.2 percent to a 42-week high of 25.1 million barrels. Stocks were 2.5 percent more than a year ago and 5.1 percent above the five-year average. Inventories built across all regions.

The volume of gasoline supplied to the U.S. market, a measure of implied demand, rose 1.1 percent to 8.14 million b/d (124.82 bg annualized). Yet, demand was 4.3 percent less than a year ago and 6.9 percent below the five-year average.

Conversely, refiner/blender net inputs of ethanol declined 0.5 percent to 830,000 b/d, equivalent to 12.72 bg annualized. Net inputs were 4.4 percent more than a year ago but 0.7 percent below the five-year average.

There were zero imports of ethanol recorded for the seventh consecutive week. (Weekly export data for ethanol is not reported simultaneously; the latest export data is as of November 2022.)