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U.S. ethanol exports rose 59% in January to 117.8 million gallons, an eight-month high, with Canada remaining the largest buyer. DDGS exports fell 13% to 770,344 metric tons, with Mexico still the top customer but at a nine-month low.
Lower DDGS export volumes loosen demand for a feed co-product that competes with corn and soymeal in rations. Stronger ethanol exports support corn grind demand, a mixed signal for feed buyers.
ethanolrfa.orgRenewable Fuels AssociationMar 8, 2023
mnbiofuels.orgLiliana TovarMar 8, 2023After 696 past bullish trade events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.3% to +1.9%), and +0.7% over 20.
After 729 past bullish trade events, Corn moved a median +0.4% over 5 sessions (56% higher; middle half -1.1% to +1.8%), and +0.5% over 20.
Not enough comparable past events yet for a historical read.
After 224 past neutral trade events, Soybean Meal moved a median -0.2% over 5 sessions (43% higher; middle half -1.7% to +1.2%), and -0.2% 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.
