Market News & Headlines >> December Corn-For-Ethanol Use Weak
U.S. corn-for-ethanol use continued to run below a year earlier and below USDA’s forecast pace during December, according to delayed grain crushings data released by the agency on Friday.
December U.S. corn crushings for fuel alcohol production totaled 460.5 million bushels up about 6 million bushels from November, but down 27 million or 5.6% from December 2017, according to USDA’s monthly Grain Crushings and Co-Productions Production report.
Corn-for-ethanol use for the first four months of the 2018/19 marketing year was roughly 3.1% below a year earlier, with USDA forecasting only a 0.5% drop in use.
Friday’s report, meanwhile, pegged DDGS/DDG production for December at 5.1% below a year earlier, which looks supportive for corn feed use and soymeal use.