US ethanol output averaged 1.143 million barrels per day in the week ended October 30, up 25,000 bpd week-on-week and 4.6% year-on-year, according to the EIA. Domestic inventories ended at 24.434 million barrels, down 89,000 barrels on the week but 2.1% higher than a year earlier.
Strong production with inventories still above last year's level points to ample ethanol supply and limits upside in corn-based ethanol demand, a mildly bearish signal for corn grind demand.
After 1,102 past bearish report events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.8% to +1.3%), and +0.0% 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.