Ethanol losses continued below $2.2 per gallon for the first time since February 2022 Thursday, pressured by an overall negative tone in energy markets pressured by higher rates and inflation forcing recession. Price pressure came from news that Corn-for-Ethanol use was stronger than expected. Corn-for-ethanol use totaled 443.6 million bu. in January, according to USDA, topping traders’ expectations of 436.8 million bushels. The USDA expects 5.25 billion bushels of corn to go to corn ethanol production in 2022-’23, below the … Continue reading “Ethanol Slide Continues to Over 1 Year Low.”
U.S. Corn Exports Continue Surge Up 35% in Week
US net corn export sales continue to rise. Mexico and Japan are the two largest destination for American corn. The Department of Agriculture reported current crop and next crop corn were up 35% from the previous week.