EIA data showed ethanol stocks rising to 27.376 million barrels, near a five-year high, as demand slowed. Production fell to a six-week low of 1.062 million bpd while exports averaged 162,000 bpd.
Crush margins are near break-even.
Rising stocks and near-breakeven margins point to weaker ethanol demand for corn, which is bearish for corn and DDGS. Higher exports offer limited support.
After 1,102 past bearish report events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.8% to +1.3%), and +0.0% 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.