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EIA data showed US ethanol production rose to 1.069 million barrels per day, up 46,000 barrels on the week. Ethanol stocks reached 23.435 million barrels, the highest in 16 weeks.
Rising ethanol output and stocks point to more DDGS supply entering the market. Positive distiller margins sustain production, which is mildly bearish for DDGS and corn demand at the margin.
biofuelsdigest.comMeghan SappAug 16, 2023Not enough comparable past events yet for a historical read.
After 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.
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.
