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S&P Global reports that US ethanol demand is strong entering 2022 as the industry recovers from pandemic lows. Ethanol cash margins hit a seven-year high of $1.7531/gal on Nov.
24 and averaged over $1/gal in Q4. Poor railroad performance has left railcars sitting at plants and kept some output below maximum.
Rail bottlenecks cap ethanol output, which limits corn grind and the DDGS supply that feed buyers rely on. That restrains corn demand and tightens or loosens DDGS availability depending on how long the rail problems last.
spglobal.com2021年12月20日在过去 359 次看跌的物流事件之后，玉米 在 5 个交易日内中位数变动 -0.3%（44% 上涨；中间一半区间为 -1.5% 至 +1.5%），20 个交易日内为 -0.5%。
历史可比事件尚不足，暂无法给出历史解读。
各商品基准价相对事件前最后收盘价的变动。历史数据汇总同类过往事件；仅描述已发生的情况，不代表未来走势。不构成投资建议。
