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USDA data showed September corn use for ethanol at 430.1 million bushels, down 3% from August but up 12% year on year, and DDGS production at 1.70 million tons. Soybean crush reached 175 million bushels, above expectations and up year on year.
Strong ethanol and crush margins support steady corn and soymeal demand, which supports DDGS output and meal supply.
brownfieldagnews.comadminNov 1, 2023After 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.
After 250 past neutral report events, Soybean Meal moved a median -0.1% over 5 sessions (49% higher; middle half -1.6% to +1.7%), and +0.4% over 20.
After 296 past bullish report events, Soybean Oil moved a median -0.0% over 5 sessions (49% higher; middle half -1.8% to +2.0%), 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.
