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US ethanol production rose 10,000 barrels per day to 1.014 million last week, the sixth straight weekly gain, but remained 54,000 below a year earlier. Stocks climbed 775,000 barrels to 21.874 million.
RFA data showed September ethanol and DDG exports down from August while imports hit their highest since August 2013.
Steady output and rising stocks with weak margins point to limited near-term corn grind demand, while higher imports add bearish pressure on the ethanol complex.
brownfieldagnews.comNov 6, 2019After 1,102 past bearish report events, CORN moved a median -0.2% over 5 sessions (47% higher; middle half -1.8% to +1.3%), and +0.0% 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.
