Corn-for-ethanol use totaled 441.5 million bu. during February, 1 million bu. more than traders expected. Corn ethanol use increased 459,000 bu. (0.1%) from the upwardly revised figure for January and was 42.8 million bu. (10.7%) above last year.
Through the first half of the 2023-24 marketing year, corn-for-ethanol use totaled 2.712 billion bu., 164 million bu. (6.4%) ahead of the same period last year. To hit USDA’s forecast of 5.375 billion bu., the pace must run 1.3% above year-ago over the final six months.
Production of dried distillers grains with solubles increased to 1.811 million short tons, up from 1.763 million tons in January and 1.561 million tons last year. Read the latest news and market updates from Pro Farmer.
