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US ethanol exports totaled 215.1 million gallons in March 2018, just 2% below February's record, according to government data analyzed by the RFA. Brazil was the top destination at 45% of volume, and Chinese purchases fell 40% from February after China imposed an additional 15% import duty on ethanol in April.
Strong ethanol export demand supports corn grind and the co-product DDGS supply, which is supportive for corn prices. The China duty is a bearish factor for that outlet.
ethanolrfa.orgRenewable Fuels AssociationMay 3, 2018After 729 past bullish trade events, Corn moved a median +0.4% over 5 sessions (56% higher; middle half -1.1% to +1.8%), and +0.5% over 20.
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.
