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CoBank's outlook says ethanol producers protected margins in 2022 through risk management, but expects margin pressure in 2023 from a slowing economy, rising rates, high diesel and labor costs, and trade uncertainty with China and Mexico. It also flags weak animal feed demand and transport bottlenecks on the Mississippi.
Softer feed demand and expected ethanol margin pressure point to reduced grain processing and feed demand, which is mildly bearish for corn and feed ingredients.
ukragroconsult.comJan 10, 2023Not enough comparable past events yet for a historical read.
After 3,207 past report events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.3% to +1.7%), and +0.5% 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.
