Article courtesy of Renewable Fuels Association
According to EIA data analyzed by the Renewable Fuels Association for the week ending June 9, ethanol production eased 1.7% to 1.018 million b/d, equivalent to 42.76 million gallons daily. Output was 4.0% less than the same week last year but 0.4% above the five-year average for the week. The four-week average ethanol production rate increased 0.8% to 1.010 million b/d, equivalent to an annualized rate of 15.48 billion gallons (bg).
Ethanol stocks shrank 3.1% to 22.2 million barrels. Stocks were 4.2% less than a year ago yet 2.5% above the five-year average. Inventories thinned across all regions except the Gulf Coast (PADD 3) and Rocky Mountains (PADD 4).
The volume of gasoline supplied to the U.S. market, a measure of implied demand, edged 0.3% lower to 9.19 million b/d (140.93 bg annualized). Yet, demand was 1.1% more than a year ago and 0.9% above the five-year average.
Refiner/blender net inputs of ethanol hiked up 2.9% to 913,000 b/d, equivalent to 14.00 bg annualized. Net inputs were 1.3% more than the same week last year and 2.0% above the five-year average.
Ethanol exports slowed to an estimated 76,000 b/d (22.3 million gallons for the week). There were zero imports recorded for the 27th consecutive week.