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The RFA reported that U.S. ethanol exports totaled 1.33 billion gallons in 2020, the fourth-largest volume on record. December shipments slipped 2% to 111.3 million gallons, with stronger buying from South Korea, China and Hong Kong offset by a drop in Brazil after its tariff-rate quota expired.
U.S. DDGS exports fell 9% in December to a seven-month low of 842,738 mt, though Mexico and South Korea rose.
Softer DDGS export pace adds supply pressure on a feed co-product that competes with corn and soymeal in buyers' rations. Stronger Mexican and Korean demand partly cushions the decline.
ethanolrfa.orgRenewable Fuels AssociationFeb 5, 2021Not 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.
