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With U.S. ethanol prices at a one-year low, an arbitrage window to China has opened despite a 30% Chinese import duty. Chinese domestic ethanol is more than $300 per metric ton above U.S. product, leaving U.S. ethanol at a $57-73/ton discount after duty, which prompted an offer for 30,000 tons for November shipment.
Improved access to China could absorb surplus U.S. ethanol and support domestic ethanol prices, modestly supporting corn demand from ethanol plants.
biofuelsdigest.comMeghan SappOct 10, 2017After 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.
