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The EIA reported U.S. ethanol production averaged 1 million barrels a day, up 35,000 on the week as some plants finished seasonal maintenance. Ethanol stocks also rose, and the Renewable Fuels Association said domestic supply was up 289,000 barrels on the week.
Higher ethanol output keeps corn grind for fuel on pace with USDA projections, so corn demand is steady. The effect on prices is small.
brownfieldagnews.comJohn PerkinsMay 15, 2024After 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.
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.
