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US ethanol production fell to record lows in April when stay-at-home orders cut gasoline demand by about half, and 73 plants idled. Production has recovered slowly but 2020 output is projected below 2019, with an estimated $8 billion industry loss this year.
Lower ethanol output reduces corn grind and DDGS supply, a background factor that has eased corn demand and tightened co-product availability.
farmanddairy.comRachel WagonerNov 4, 2020After 301 past bearish macro events, CORN moved a median -0.1% over 5 sessions (47% higher; middle half -2.2% to +1.3%), and +0.2% 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.
