# CoBank Reports a Strong Q3 for US Ethanol Industry

> 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.

- Date: 2023-10-17 · published 2023-10-17T12:00:00.000Z
- Category: report · region US · magnitude low
- Page: https://feedsoft.ai/events/33606-cobank-reports-a-strong-q3-for-us-ethanol-industry
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [DDGS](https://feedsoft.ai/c/DDGS.md)

## Why it matters

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.

## Read by commodity

- CORN: bullish ▲
- DDGS: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2023-04-19 | [CoBank Reports Strong Q1 Finish for US Ethanol Industry](https://feedsoft.ai/events/36390-cobank-reports-strong-q1-finish-for-us-ethanol-industry.md) | -1.0% | -8.5% |
| CORN | 2023-10-26 | [ADM Reports Strong Q3 for Ethanol](https://feedsoft.ai/events/33607-adm-reports-strong-q3-for-ethanol.md) | -3.5% | -3.6% |
| CORN | 2023-07-19 | [CoBank: Ethanol Industry Delivers Strong Q2 Results](https://feedsoft.ai/events/35030-cobank-ethanol-industry-delivers-strong-q2-results.md) | +13.6% | -6.1% |
| CORN | 2024-10-15 | [CoBank Predicts Ethanol Industry Earnings Will Remain Stable](https://feedsoft.ai/events/27838-cobank-predicts-ethanol-industry-earnings-will-remain-stable.md) | -0.1% | +2.6% |
| CORN | 2018-03-08 | [USDA Raises Corn Demand for Exports and Ethanol](https://feedsoft.ai/events/65955-usda-raises-corn-demand-for-exports-and-ethanol.md) | +2.4% | +5.3% |

## Sources

- mnbiofuels.org: https://www.mnbiofuels.org/cobank-reports-a-strong-q3-for-us-ethanol-industry

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.