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US ethanol exports fell 29% in April to 99.4 million gallons, with sharp drops to Brazil and Canada. Exports to Mexico hit a record 13.8 million gallons, and South Korea rose.
The RFA says COVID-19 will likely keep 2020 exports below the pace implied by year-to-date sales.
Lower ethanol and DDGS export demand reduces outlets for US co-products, pressuring DDGS prices. Weaker ethanol shipments can also trim corn grind demand.
biofuelsdigest.comadminJun 7, 2020Not enough comparable past events yet for a historical read.
After 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.
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.
