
EIA data showed US ethanol output averaged 1.093 million bpd, up 12,000 bpd on the week, with stocks at 27.289 million barrels, still 1.238 million above a year earlier. Iowa State estimated operating margins for an average Iowa plant returned to positive territory after some input prices fell.
Higher output and large ethanol stocks point to softer ethanol demand for corn, but improved margins support continued grind. The net effect on corn and DDGS prices is modest.
After 770 past neutral report events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.7% over 20.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.