Corn-for-ethanol use totaled 481.7 million bu. during December, 3.3 million bu. above the average pre-report estimate, but the highest monthly total since August 2018. Ethanol use jumped 24.4 million bu. (5.3%) from November and 55.9 million bu. (13.1%) from last year. Through the first four months of 2023-24, corn-for-ethanol use topped the same period last year by 7.1%. To reach USDA’s forecast of 5.375 billion bu., corn ethanol use run 2.2% above year-ago over the final eight months. Based on U.S. Energy Information Administration weekly ethanol production data, the pace lagged year-ago by 5.1% in January, due largely to the mid-month artic temps.
Production of dried distillers grains with solubles (DDGS) totaled 1.951 million short tons in December, up from 1.797 million tons in November and 1.680 million tons last year.
