Corn-for-ethanol use totaled 445.7 million bu. during July, according to USDA, which was a little lighter than the 448.3 million bu. traders expected. Corn-for-ethanol use increased 1.5 million bu. (0.3%) from June but was 4.6 million bu. (1.0%) lower than last year. Through the first 11 months of 2021-22, corn-for-ethanol use totaled 4.895 billion bu., meaning the August tally must reach 455 million bu. to hit USDA’s forecast of 5.350 billion bushels. Based on weekly EIA ethanol production data, it appears August production will fall well short of that level. Assuming the most recent weekly pace continues, corn-for-ethanol use is likely to finish around 5.323 billion bushels.
Production of dried distillers grains with solubles totaled 1.934 million short tons during July, up from 1.919 million tons in June but down from 1.970 million tons last year.
