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Weekly Ethanol Production for 10/28/2022

According to EIA data analyzed by the Renewable Fuels Association for the week ending October 28, ethanol production rose 0.7% to a 13-week high of 1.040 million b/d, equivalent to 43.68 million gallons daily. However, production was 6.1% less than the same week last year and 0.1% below the five-year average for the week. The four-week average ethanol production volume increased 3.9% to 1.005 million b/d, equivalent to an annualized rate of 15.41 billion gallons (bg).

Ethanol stocks tapered by 0.3% to 22.2 million barrels. Yet, stocks were 10.4% higher than a year ago and 4.7% above the five-year average. Inventories thinned in the East Coast (PADD 1) and Gulf Coast (PADD 3) but built across the other regions.

The volume of gasoline supplied to the U.S. market, a measure of implied demand, shrank 3.0% to 8.66 million b/d (132.76 bg annualized). Demand was 8.9% less than a year ago and 5.0% below the five-year average.

Refiner/blender net inputs of ethanol declined 1.1% to 905,000 b/d, equivalent to 13.87 bg annualized. Net inputs were 0.3% higher than a year ago and 0.8% above the five-year average.

There were no imports of ethanol for the second consecutive week. (Weekly export data for ethanol is not reported simultaneously; the latest export data is as of August 2022.)

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