Green Plains reported record adjusted EBITDA of $118 million in the third quarter of 2026, more than double the year-earlier result, supported by strong operations and 45Z clean-fuel tax credits. The company said utilization recovered to about 95%, ethanol and corn-oil yields reached records, and it arranged to monetize 2026 tax-credit receivables; it also reported lower revenue and weaker initial fourth-quarter margins.
The 45Z credits improve the economics of low-carbon fuel production and could support ethanol output and corn demand. That is a supportive signal for corn, although seasonal demand weakness and softer fourth-quarter margins temper the outlook.
After 318 past bullish policy events, Corn moved a median -0.1% over 5 sessions (48% higher; middle half -1.4% to +1.5%), and -0.2% 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.