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Daily ethanol production averaged 1.06 million barrels in the first half of November, up from October and roughly flat year on year. Average Iowa ethanol prices were $1.24 per gallon, nearly 10 cents below a year earlier, and plant margins have been eroding for several months.
Plants are keeping output high despite weak margins, so corn grind is holding up and gives limited support to corn demand. Continued low ethanol prices keep pressure on processors' willingness to pay for corn.
mckeany-flavell.comBarbara BrodnitzNov 27, 2018Not 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.
