According to EIA data analyzed by the Renewable Fuels Association for the week ending July 5, ethanol production averaged 1.047 million barrels per day (b/d), a decrease of 33,000 b/d, or 3.1%. This is equivalent to 43.97 million gallons daily and the lowest volume since May. The four-week average ethanol production rate dropped 1.1% to 1.070 million b/d, equivalent to an annualized rate of 16.40 billion gallons (bg).
Nonetheless, ethanol stocks expanded 0.7% to 23.0 million barrels, a seven-week high. Reserves were 2.8% higher compared to year-ago volumes. Stocks built in the Midwest (PADD 2) and Gulf Coast (PADD 3) regions but declined across all other PADDs.
Imports of ethanol were 17,000 b/d, or 5.00 million gallons for the week. This is the second time this year that import volumes were logged. (Weekly export data for ethanol is not reported simultaneously; the latest export data is as of May 2019.)
The volume of gasoline supplied pressed 2.8% higher to 9.754 million b/d (409.7 million gallons per day, or 149.53 bg annualized). Refiner/blender net inputs of ethanol declined 0.4% to 943,000 b/d, equivalent to 14.46 bg annualized.
Expressed as a percentage of daily gasoline demand, daily ethanol production decreased to 10.73%.