Ethanol stocks fall as production dips: EIA

US ethanol stocks fell just over 1pc for the week, trailing US ethanol production and ethanol blending losses on the week, according to data from the Energy Information Administration (EIA).

US ethanol stocks lost 295,000 bl to 22.84mn bl for the week ending 9 September. Still, the latest stocks were up 14.2pc compared with a year earlier and 15.4pc higher than two years prior.

East coast stocks led declines, falling by 7.8pc to 6.9mn bl on the week. Midcontinent stocks partially offset the decline, rising by 3.3pc to 8.8mn bl on the week.

Ethanol production fell by 2.6pc to 963,000 b/d on the week. Ethanol production was up 2.8pc from a year earlier and 4pc higher than two years prior.In the midcontinent production fell the most, off by 3.1pc to 902,000 b/d on the week, reaching the lowest level since late April.

Implied gasoline demand fell 2.7pc to 8.5mn b/d for the week, hitting its lowest since the week ended 19 August.

Weekly ethanol blending figures fell by 11,000 b/d to 894,000 b/d, marking a 1.2pc decrease from the previous week's figures. The latest weekly figures were 0.4pc lower on the year and 5.8pc higher than two years ago.

By Conor O'Brien