NASHVILLE, TN – U.S. ethanol production slowed in the latest reporting week, while inventories tightened and exports jumped sharply. The new numbers point to a market that is still moving product, but with less production support than earlier in the month.
According to EIA data analyzed by the Renewable Fuels Association, ethanol production for the week ending April 24 fell 3.0 percent to 1.01 million barrels per day. That was the lowest weekly output since January and 3.0 percent below the same week last year.
Stocks also moved lower. Ethanol inventories dropped 4.0 percent to 25.9 million barrels, a seven-week low. Even so, stocks remained 1.9 percent above year-ago levels and 4.6 percent higher than the three-year average for the week.
Demand indicators were steadier. Gasoline supplied, a proxy for implied demand, rose 0.5 percent to 9.10 million barrels per day. Refiner and blender net ethanol inputs slipped 0.4 percent to 917,000 barrels per day.
The strongest move came in trade. Ethanol exports surged 86.8 percent to 170,000 barrels per day, while EIA again reported no ethanol imports.
Farm-Level Takeaway: Ethanol demand held together last week, but lower production and thinner stocks put more focus on export strength.