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Some 17 ethanol plants have idled or closed in the past year, according to the Renewable Fuels Association, with POET pausing its Cloverdale, Indiana plant and cutting output at half its biorefineries. Trade tensions, oversupply and small refinery exemptions are blamed.
Idled ethanol capacity lowers corn grind and DDGS output across the Midwest, a bearish signal for corn and a tightening factor for DDGS supply.
proag.comSep 17, 2019After 310 past bearish policy events, CORN moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +1.9%), and +0.6% 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.
