Loading…
Renewable Fuels Association CEO Geoff Cooper said ethanol prices are following corn higher and that the corn rally will likely reach pump prices this summer. Corn futures have broken long-term resistance as wet weather slows planting, and ethanol plants are worried about securing feedstock locally.
Wet weather delaying planting and rallying corn raise feedstock costs for ethanol plants and tighten corn supply, supporting corn prices and the DDGS byproduct value. Ethanol margins remain tight.
brownfieldagnews.comMark DorenkampJun 5, 2019After 1,465 past bullish weather events, CORN moved a median +0.2% over 5 sessions (54% higher; middle half -1.4% to +1.9%), and +0.9% 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.
