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EIA data showed U.S. ethanol production held steady at 1.052 million barrels per day in the latest week. Ethanol stocks rose slightly to 22.979 million barrels, the highest in six weeks, despite average exports of 104,000 barrels per day.
Steady output with rising stocks suggests ample ethanol supply, which keeps corn demand from ethanol plants stable but not strengthening. Thin crush margins may limit plant rate increases and DDGS output growth.
biofuelsdigest.comMeghan SappJun 28, 2023After 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.
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.
