Market News & Headlines >> Corn-for-Ethanol Use Outpacing Forecast
U.S. ethanol producers used 3.1% more corn for production of the renewable fuel in October than they did a year earlier, USDA reported on Dec. 1 in its monthly Grain Crushings and Co-Products Production report.
October corn-for-ethanol use totaled 470.1 million bushels, up from 455.8 million bushels October 2016, according to USDA’s National Agricultural Statistics Service. October corn-for-ethanol use was up 5.5% from September use of 445.5 million bushels.
October corn-for-ethanol use was comfortably above the level need to meet USDA’s usage forecast for the 2017-18 marketing year, which is just 0.7% above last year.
Total October corn use for fuel alcohol and other purposes came in at 522.6 million bushels, up 2.9% from a year earlier.
October production of distillers dried grains with solubles (DDGS) came in at 1.962 million short tons, up 5.8% from September and up 1.8% from a year earlier.