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CoBank forecasts a positive 2024 outlook for ethanol as plants benefit from lower corn prices and better margins. January corn use for fuel alcohol fell 10% month on month and 2% year on year, and restarted plants may add minor oversupply.
Lower corn prices and improved margins support ethanol output and corn grind, while restarted plants could add supply and limit ethanol price gains.
mnbiofuels.orgLiliana TovarApr 24, 2024After 1,040 past bullish report events, Corn moved a median +0.5% over 5 sessions (62% higher; middle half -0.9% to +2.0%), and +0.8% 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.
