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Ethanol Production Volume Continues to Rebound
USAgNet - 07/09/2020

According to EIA data analyzed by the Renewable Fuels Association for the week ending July 3, ethanol production increased 1.6%, or 14,000 barrels per day (b/d), to 914,000 b/d-equivalent to 38.39 million gallons daily. Production remains tempered due to COVID-19 disruptions, coming in 12.7% below the same week in 2019. The four-week average ethanol production rate rose 2.2% to 887,000 b/d, equivalent to an annualized rate of 13.60 billion gallons.

Ethanol stocks bounced higher for the first time in eleven weeks, expanding 2.3% to 20.6 million barrels and 10.4% below year-ago volumes. Inventories grew across all regions except the East Coast (PADD 1).

The volume of gasoline supplied to the U.S. market, a measure of implied demand, grew 2.4% to 8.766 million b/d (134.38 bg annualized). Gasoline demand was 10.1% lower than a year ago.

Refiner/blender net inputs of ethanol improved, up 2.5% to 850,000 b/d, equivalent to 13.03 bg annualized and 9.9% below the year-earlier level.

Imports of ethanol arriving into the West Coast were 36,000 b/d, or 10.58 million gallons for the week. This marks the first imports since the start of March, or seventeen weeks. (Weekly export data for ethanol is not reported simultaneously; the latest export data is as of May 2020.)

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