# CoBank: Ethanol Industry Delivers Strong Q2 Results

> CoBank's Q2 2023 quarterly report says U.S. ethanol producers earned pretax operating margins averaging 45 cents per gallon through late June, above the year-to-date average of 32 cents. Q2 production averaged 15.4 billion gallons annualized, modestly above the five-year average. CoBank also flagged below-average Central U.S. corn conditions ahead of pollination.

- Date: 2023-07-19 · published 2023-07-19T12:00:00.000Z
- Category: report · region US · magnitude low
- Page: https://feedsoft.ai/events/35030-cobank-ethanol-industry-delivers-strong-q2-results
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [DDGS](https://feedsoft.ai/c/DDGS.md)

## Why it matters

Strong ethanol margins support continued corn grind demand and DDGS output, but dry Central U.S. crop conditions raise the risk of tighter corn supplies and firmer corn prices if July weather disappoints.

## Read by commodity

- CORN: bullish ▲
- DDGS: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2023-10-17 | [CoBank Reports a Strong Q3 for US Ethanol Industry](https://feedsoft.ai/events/33606-cobank-reports-a-strong-q3-for-us-ethanol-industry.md) | +2.6% | -1.6% |
| 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 | 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 | 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 | 2024-04-24 | [CoBank: Overall Outlook for Ethanol is Positive](https://feedsoft.ai/events/30721-cobank-overall-outlook-for-ethanol-is-positive.md) | -0.5% | +3.3% |

## Sources

- mnbiofuels.org: https://mnbiofuels.org/cobank-ethanol-industry-delivers-strong-q2-results

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