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EIA weekly data showed ethanol production rising 7,000 barrels per day to about 1.04 million barrels per day in the week ending February 14, 2020. Ethanol stocks rose 2% to a record 24.8 million barrels, and corn use for ethanol increased.
Higher ethanol output raises corn grind, which supports corn demand. Record ethanol stocks cap prices and signal weak blending demand, so the net effect on corn is limited.
thejacobsen.comBob LaneFeb 20, 2020After 1,040 past bullish report events, Corn moved a median +0.5% over 5 sessions (62% higher; middle half -0.9% to +2.0%), and +0.8% 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.
