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April U.S. ethanol exports fell 5% to 125.7 million gallons, with Canada remaining the top destination. April U.S. DDGS exports declined 13% to 777,617 metric tons, with Mexico still the largest buyer despite a 25% monthly cut.
Brazil remains absent from the U.S. ethanol market due to a 16% tariff.
Lower DDGS export volumes add supply to the domestic market, which pressures DDGS spot prices and weighs on feed buyers' costs. Weak export demand for DDGS can also support lower prices relative to corn and soybean meal.
ethanolrfa.orgRenewable Fuels AssociationJun 7, 2023Not enough comparable past events yet for a historical read.
After 480 past neutral trade 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.
