# Resilient Q3 Ethanol Margins Offset Weaker Co-Product Prices, TPH Says | FINWIRES

> TPH Energy Research says Q3 Midwest ethanol margins have averaged $1.05 per gallon so far, above expectations but down from $1.15 in Q2. Lower dried distillers grains and corn oil prices trimmed margins, while corn prices fell despite a bullish WASDE. TPH raised its Green Plains EBITDA forecast.

- Date: 2026-07-15 · published 2026-07-15T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/18344-resilient-q3-ethanol-margins-offset-weaker-co-product-prices-tph-says-finwires
- Commodities: [DDGS](https://feedsoft.ai/c/DDGS.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

Softer DDGS and corn prices lower feed co-product values for buyers, while strong ethanol exports support corn demand. Margins remain healthy, which supports continued ethanol plant output.

## Read by commodity

- CORN: bearish ▼
- DDGS: bearish ▼

## Sources

- finwires.com: https://finwires.com/en/article/resilient-q3-ethanol-margins-offset-weaker-co-product-6969776

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.