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USGC reports that US ethanol exports fell 12% year-over-year in the 2019/20 marketing year as COVID-19 stay-at-home orders hit fuel demand. Industrial-use markets partly offset losses, with exports down in all top 10 fuel ethanol markets.
Weaker global ethanol demand reduces corn grind and co-product output, a mildly bearish factor for corn and DDGS.
grains.orgNov 19, 2020After 683 past bearish trade events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), and +0.3% 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.
