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U.S. ethanol production fell by 25,000 barrels per day last week to 1.042 million barrels per day, about 3% below a year earlier, according to EIA data. Plants outside the Corn Belt have begun shutting down because of thin or negative margins.
Lower ethanol output reduces corn grind and DDGS supply, which is bearish for corn demand. A further shutdown of Corn Belt plants would be needed to signal a sustained turn.
biofuelsdigest.comMeghan SappNov 21, 2018Not 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.
