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EIA data showed US ethanol output fell 25,000 barrels per day to about 1.013 million bpd in the week ending August 30, with DDGS output down 2.4% in step. Gasoline demand fell ahead of Labor Day and ethanol stocks rose 3.6%.
Lower ethanol runs cut corn grind by up to 370,000 bushels per day and reduce DDGS supply, a mildly bearish corn signal and a modestly supportive one for DDGS prices.
thejacobsen.comSep 5, 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.
