Loading…
The EIA reports U.S. fuel ethanol exports are on track for a record in 2024, averaging 121,000 b/d in the first eight months. The growth is driven by demand from countries with blending mandates and cheaper U.S. ethanol prices.
Canada, Colombia, India and the UK account for more than 60% of the increase.
Strong ethanol export demand supports U.S. corn use for fuel production, tightening domestic corn balances. Cheap U.S. ethanol is capturing overseas blending demand that might otherwise go to other suppliers.
eia.govNov 6, 2024After 729 past bullish trade events, Corn moved a median +0.4% over 5 sessions (56% higher; middle half -1.1% to +1.8%), and +0.5% over 20.
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.
