US ethanol production averaged 945,000 b/d in the week ended April 23, 4,000 b/d higher on the week and 408,000 b/d higher than a year ago, Energy Information Administration data showed April 28.

Production was squarely in the middle of market expectations.

US ethanol stocks fell by 710,000 barrels to 19.736 million barrels, a draw much larger than market expectations.

East Coast inventories saw the largest draw, dropping by 301,000 barrels. The East Coast hosts large consumption and trading hubs, such as New York Harbor.

Stocks in the Midwest fell by 222,000 barrels. The region is home to most of the nation's ethanol plants.

Gulf Coast stocks decreased by 230,000 barrels. The Gulf Coast is the most common origin for exports but also hosts large consumption hubs.

West Coast inventories saw the lone increase, adding 48,000 barrels despite the EIA reporting no imports. Ethanol imports typically flow into California, as imported sugarcane-based ethanol from Brazil generates more value from carbon credits under the state's Low Carbon Fuel Standard.

The four-week rolling average of the refiner and blender net ethanol input was steady at 885,000 b/d, while the weekly average fell by 10,000 b/d at 880,000 b/d.

The four-week rolling average of gasoline demand, represented by product supplied, fell by 4,000 b/d to 8.926 million b/d. The weekly average fell by 227,000 b/d to 8.877 million b/d.

The four-week rolling average of the ethanol blending rate, calculated by dividing the refiner and blender ethanol input by gasoline demand, remained at 9.91%.