Market News & Headlines >> Corn-for-Ethanol Use Down Again
The pace of U.S. corn-for-ethanol use slowed further in January, according to Friday afternoon’s monthly USDA Grain Crushings and Co-Products Production report.
USDA pegged January corn-for-ethanol use at 444.02 million bushels, down 3.8% from 461.64 million bushels in December and 6.7% from 476.13 million in January 2018. The slow pace of corn-for-ethanol use may cause USDA to lower its usage forecast again in this Friday’s monthly Supply/Demand report.
Production of distillers dried grains with solubles and distillers dried grains also slowed in January to 2.192 million short tons, down 3.9% from December and 8.4% below January 2018.
Unfavorable producer operating margins and adverse weather helped limit U.S. ethanol production during January.