Corn-for-ethanol use totaled 441.5 million bu. in June, according to USDA, 2.7 million bu. less than expected. Corn ethanal use increased 2.5 million bu. (0.6%) from May but was 2.7 million bu. (0.6%) less than last year.
Through the first 10 months of 2022-23, corn-for-ethanol use totaled 4.277 billion bu., 172 million bu. (3.9%) behind the same period last year. To reach USDA’s forecast of 5.225 billion bu., ethanol use must top year-ago by 8.1% over the final two months of the marketing year. Our 2022-23 corn-for-ethanol use forecast is 5.200 billion bushels.
