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Corn prices fell 20 cents in the week to August 15, while ethanol futures dropped only 3.6 cents per gallon. Midwest wholesale rack ethanol fell slightly to 172.32 cents per gallon, and Brazilian ethanol FOB Santos weakened.
Lower corn costs lifted the Iowa State average dry-mill margin to 40.67 cents per gallon.
Cheaper corn is widening ethanol margins, which encourages producers to raise output and can add pressure on corn and ethanol prices in coming weeks. Higher DDGS values also support the co-product side of the feed market.
grains.orgAug 15, 2017Not 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.
