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Ethanol Production Rebounds from Recent Collapse
USAgNet - 03/04/2021

According to EIA data analyzed by the Renewable Fuels Association for the week ending February 26, ethanol production scaled up 29.0% following the prior week lull, or 191,000 barrels per day (b/d), to 849,000 b/d-equivalent to 35.66 million gallons daily. Production remained 21.3% below the same week last year. The four-week average ethanol production rate decreased 2.6% to 838,000 b/d, equivalent to an annualized rate of 12.85 billion gallons (bg).

Ethanol stocks declined 1.6% to a 12-week low of 22.4 million barrels, which was 10.2% below a year-ago. Inventories drew down across all regions except the Midwest (PADD 2).

The volume of gasoline supplied to the U.S. market, a measure of implied demand, recovered by 13.1% to 8.15 million b/d (124.91 bg annualized). Gasoline demand was 11.3% less than a year ago.

Refiner/blender net inputs of ethanol improved by 12.3% to a nine-week high of 814,000 b/d, equivalent to 12.48 bg annualized. This was 9.3% below the year-earlier level.

There were zero imports of ethanol recorded for the week.

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