Corn-for-ethanol use totaled 416.9 million bu. in April, well below analysts’ expectations of 433.0 million bushels. Corn ethanol use dropped 55.2 million bu. (11.7%) from March but up 2.9 million bu. (0.7%) from last year.
Through the first eight months of 2023-24, corn-for-ethanol use totaled 3.605 billion bu., 6.1% above the same period last year. To reach USDA’s forecast of 5.450 billion bu., use must run 3.8% above last year over the final four months of the marketing year.
