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Platts' crush margin tracker showed Midwest corn-based ethanol plants running at a negative margin of -5.91 cents/gal on October 22, down from 5.31 cents/gal on October 15. Ethanol stocks continued to rise even as production fell.
Only the Gulf region saw falling stocks, likely reflecting export buying on low prices.
Negative crush margins and rising ethanol stocks can curb plant runs and corn demand, which is bearish for corn while export buying offers some offset.
biofuelsdigest.comMeghan SappOct 23, 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.
