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An University of Illinois analyst says the US ethanol industry may have passed the worst of the COVID-19 demand shock. Production fell about 50% over six weeks but has recovered from 537,000 to 617,000 barrels per day, and gasoline demand is climbing again.
A recovery in ethanol output restores corn grind and DDGS supply, supporting corn demand and feed co-product availability, with a mildly bullish tilt for corn.
world-grain.comSusan ReidyMay 22, 2020Not enough comparable past events yet for a historical read.
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.
