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CoBank's quarterly report says US ethanol production averaged 15.4 billion gallons annualized in Q1 2023, slightly below 2022's 15.5 billion. Pretax margins rose from 7 cents per gallon at the start of the quarter to long-term average levels of 28 cents by quarter end.
Stronger margins from cheaper corn and natural gas support ethanol plant grind demand for corn and DDGS output, though the effect on feed prices is modest.
mnbiofuels.orgLiliana TovarApr 19, 2023After 1,040 past bullish report events, Corn moved a median +0.5% over 5 sessions (62% higher; middle half -0.9% to +2.0%), and +0.8% 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.
