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Ethanol merchandisers report strong domestic and overseas demand for ethanol as the new-crop harvest approaches and stored corn tightens. Local drought has led to expectations that next year's crop could be two-thirds to three-quarters of normal.
Expectations of a smaller next-year crop support corn prices, while current ethanol demand keeps plant margins favorable for near-term corn grinding.
midwestfarmreport.comPam JahnkeAug 13, 2023After 1,465 past bullish weather events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.4% to +1.9%), and +0.9% 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.
