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Ethanol production margins in the U.S. Corn Belt have fallen to a four-year seasonal low, and producers are expected to cut output. Ethanol inventories are at their highest seasonal level since at least 2010, even though production itself reached its highest seasonal level since 2010.
Lower ethanol grind reduces corn demand and co-product (DDGS) supply, which weighs on corn prices while tightening DDGS availability for feeders.
reuters.comStephanie KellyJul 19, 2019Not 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.
