US ethanol production rose to 1.143 million barrels per day in the week ended October 30, the second-highest weekly level on record, according to the EIA. Stocks fell 89,000 barrels to 24.4 million barrels, slightly above the analyst average estimate of 24.2 million.
Output near record levels with stocks slightly above expectations signals ample ethanol supply, a mildly bearish read for corn demand from ethanol plants.
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.