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U.S. ethanol exports reached a record 1.10 billion gallons through July, 38% ahead of last year's pace, according to the Renewable Fuels Association. DDGS exports were up 15% year on year at 6.97 million metric tons, with Mexico the top market at a five-month high.
The RFA expects a record 2024 ethanol export year of 1.8 to 2 billion gallons.
Strong export demand for DDGS supports feed-ingredient prices and tightens supply for buyers. Robust ethanol exports also support corn demand through the industrial channel.
energy.agwired.comSep 5, 2024Not enough comparable past events yet for a historical read.
After 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.
