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Net ethanol plant earnings averaged 29 cents per gallon in 2023, more than twice the average since 2007, according to Irwin's analysis. Quarterly margins ranged from a 74 cent high to a 5 cent loss.
Plants also gained efficiency per bushel but produce less DDGS.
Higher plant margins support continued corn grind, while the shift toward less DDGS per bushel tightens feed co-product supply. Feed buyers may see firmer DDGS values relative to corn.
agri-pulse.comPhilip BrasherFeb 14, 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.
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.
