Corn for ethanol use, soybean crush up on month
Corn for ethanol use continues to trend below year ago levels as the industry continues to grapple with slower blending demand because of COVID-19. The USDA says 432.713 million bushels of corn were consumed for fuel alcohol during October, up 8% from September, but down 1% from October 2019. Production of distillers dried grains with solubles was 1,801,395 tons, an increase of 4% on the month, but a decrease of 4% on the year.
Meanwhile, the domestic soybean crush continued to benefit from strong demand for livestock feed and vegetable oils. October’s soybean crush was 197 million bushels, a jump of 26 million bushels from the previous month and 10 million more than the year before, producing 4,335,054 tons of soybean meal, 4,289,031 of that for feed use, and 2,282,471 pounds of crude soybean oil.
The USDA’s next corn for ethanol use and soybean crush estimates are out on the 10th.