Corn grind, soybean crush down on month
Domestic corn for ethanol use and soybean crush demand during April declined slightly from March due to tighter supplies and seasonal facility maintenance, but held above year ago levels.
The USDA says 414.731 million bushels of corn were used for ethanol production in April, a decrease of 9% on the month, but an increase of 2% on the year, while production of distillers dried grains with solubles was 1,704,698 tons, 9% less than the previous month and 4% below last year.
181 million bushels of soybeans were used for meal and oil production, down 12 million from the month before, but up 11 million on the year. Crude soybean oil production was 2.143 billion pounds, 5% lower than in March, but 8% higher than in April 2021.
The USDA’s next set of supply and demand estimates is out on the 10th at Noon Eastern/11 Central.