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The RFA said more than 40 US ethanol plants were fully idled and many others ran well below capacity due to reduced fuel demand from COVID-19 stay-at-home orders and Renewable Fuel Standard uncertainty. Gasoline consumption has begun to pick up.
DDGS markets are returning to normal.
Idled plants cut corn grind and DDGS output, but the recovery in gasoline consumption and DDGS markets points to rising co-product supply and firmer corn demand as plants restart.
feedstuffs.comJacqui FatkaJun 11, 2020After 151 past bullish macro events, Corn moved a median +0.2% over 5 sessions (57% higher; middle half -0.9% to +1.4%), 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.
