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US ethanol and DDGS output hit a 12-week low in the week ending September 18, 2020, with ethanol production down 2.2 percent week over week and four percent below a year earlier. DDGS output fell 1,902 metric tons per day as fall maintenance and oil supply concerns slowed plants.
Ethanol-processing margins narrowed for a third straight week as corn costs rose faster than revenue.
Lower ethanol output cuts DDGS supply to feed buyers, supporting DDGS prices while adding to corn demand pressure on the margin side. Tighter co-product availability favors higher feed ingredient prices in the near term.
thejacobsen.comSep 23, 2020Not enough comparable past events yet for a historical read.
After 770 past neutral report events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.7% 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.
