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CoBank's quarterly report says US fuel ethanol output averaged 16.1 billion gallons annualized in Q3, up from 15.4 billion in Q2. Producer margins exceeded 50 cents per gallon, helped by a 23% drop in corn feedstock costs, and stocks are tight.
Strong ethanol output and margins sustain corn and DDGS demand from processors, while lower corn costs have improved plant profitability. Tight ethanol stocks suggest continued grind support.
mnbiofuels.orgLiliana TovarOct 17, 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.
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.
