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U.S. ethanol exports totaled 89.9 million gallons in September, down 25% from August and the lowest monthly volume in a year, according to government data analyzed by the Renewable Fuels Association. Canada was the top customer, and Malaysia set a record monthly volume.
Undenatured fuel ethanol exports fell 45% to the lowest level in 52 months.
Weaker export demand for ethanol and DDGS reduces outlets for U.S. corn processing and co-products, a mild bearish signal for corn and DDGS prices. Total exports remain near record pace, which limits the downside.
ethanolrfa.orgRenewable Fuels AssociationNov 3, 2018After 683 past bearish trade events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), and +0.3% 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.
