Alto Ingredients Inc (ALTO)

[Rule_62]

Yes, and I'm attempting to follow up on it somewhat. It's hard to determine what's actually reported as inventory assigned to an individual PADD. Here's a link to the instructions to ethanol production facilities:

EIA-809 WEEKLY OXYGENATE REPORT INSTRUCTIONS

From the inventory reporting instruction section:

End of Week Stocks

• Report stocks as of 7 a.m. Eastern Time Friday, which is the end of the report period. Stocks should be reported corrected to 60 degrees Fahrenheit (0 F) less basic sediment and water (BS&W).
• Report stocks of both denatured fuel ethanol (Code 190) and undenatured (Code 191) fuel ethanol.

• Only include stocks located at production facilities. Report
total stocks of oxygenates in the custody of the facility regardless of ownership. Report stocks in aboveground and underground storage as well as rail cars located at the facility.

• Exclude stocks held at terminals or other facilities outside of the production plant. These stocks will be reported by the operators of those facilities. Reported stock quantities should represent actual measured inventories where an actual physical measurement is possible.

Ok, so when stocks are in transit, which PADD are they assigned to? The destination, regardless of physical location? The physical location of the train as of 7 am on the Friday?

I think it all still points back to not reading too much into shifts in the individual weekly levels, so much as the overall trend.