Article courtesy of the Renewable Fuels Association
According to EIA data analyzed by the Renewable Fuels Association for the week ending October 13, ethanol production expanded 3.1% to a 5-week high of 1.035 million b/d, equivalent to 43.47 million gallons daily. Output was 1.9% more than the same week last year and 2.6% above the five-year average for the week. The four-week average ethanol production rate increased 1.4% to 1.014 million b/d, which is equivalent to an annualized rate of 15.54 billion gallons (bg).
Ethanol stocks declined 1.9% to 21.1 million barrels—the smallest volume since the end of 2021. Stocks were 3.4% less than the same week last year and 1.3% below the five-year average. Inventories thinned across all regions except the Midwest (PADD 2) and Gulf Coast (PADD 3).
The volume of gasoline supplied to the U.S. market, a measure of implied demand, lifted 4.2% to a 6-week high of 8.94 million b/d (137.10 bg annualized). Demand was 3.1% more than a year ago but 1.8% below the five-year average.
Refiner/blender net inputs of ethanol rose 1.2% to 915,000 b/d, equivalent to 14.03 bg annualized and the largest weekly volume since August. Net inputs were 0.8% more than a year ago and 1.3% above the five-year average.
Ethanol exports were estimated at 112,000 b/d (4.7 million gallons/day), or 6.7% less than the prior week. There were zero imports of ethanol recorded for the fourth consecutive week.