EIA: US ethanol stocks reach record high 24.412 million barrels

By Erin Voegele | March 21, 2019

Data released by the U.S. Energy Information Administration March 20 indicates weekly U.S. ending stocks of fuel ethanol set a new record the week ending March 15, reaching 24.412 million barrels.

Stocks were up approximately 681,000 barrels when compared to the prior week. When compared to the same week of 2018, stocks were up approximately 654,000 barrels. The record-setting stocks reached for the week of March 15 mark only fifth time stocks have risen above the 24 million barrel mark, according to EIA data. Ethanol stocks reached 24.261 million barrels earlier this year during the week ending March 1. Stocks reached 24.021 million barrels the week ending Oct. 5, 2018, and increased to 24.130 million barrels the following week, which ended Oct. 12, 0218. Ethanol stocks first crossed the 24 million barrel mark the week ending March 9, 2018, when stocks reached 24.281 million barrels.

On a regional basis, stocks for the week ending March 15 reached 7.565 million barrels in PADD 1 (East Coast), 9.129 million barrels in PADD 2 (Midwest), 4.864 million barrels in PADD 3 (Gulf Coast), 330,000 in PADD 4 (Rocky Mountains), and 2.524 million barrels in PADD 5 (West Coast, Alaska and Hawaii).

Ethanol production averaged 1.004 million barrels per day the week ending March 15, down slightly form 1.005 million barrels per day the previous week, and down significantly from 1.049 million barrels per day reported for the same week of last year.